How much trouble is the UK economy in?

Last month the Prime Minister, Sir Keir Starmer, warned that "things would get worse before they got better". The Chancellor Rachel Reeves has already said that there's a £22 billion black hole in the government's finances left by the Conservatives. The budget at the end of October, we're told, will be "painful". But just how bad a state is the UK economy really in? And how constrained is the new government by manifesto promises it made not to raise the main taxes on working people?

Guests:

Paul Johnson, Director of the Institute for Fiscal Studies Mehreen Khan, Economics editor at The TImes Chris Giles, Economics Commentator at The Financial TImes

Presenter: David Aaronovitch Producers: Ben Carter, Caroline Bayley and Kirsteen Knight Sound engineers: Sarah Hockley and Gareth Jones Editor: Richard Vadon Production Co-ordinator: Gemma Ashman