hello and welcome to our look ahead to what the papers will be bringing us tomorrow. with me are the broadcaster and journalist james lewer and the sun's chief political correspondent natasha clark. first, let's take a look at tomorrow's front pages. today's many budget dominates the front pages. the mail calls it a true tory budget —— mini budget. the i takes a slightly more cautious

tone, warning markets were spooked by government borrowing to pay for the biggest as cut in half a century. the market reaction is on the front page of the financial times as well. the pound has slumped to its longest level since 1985. borrowing is forecast to hit £190 billion. the times describes the chancellor's plans as a great tax gamble, with the prime minister seeking economic growth at all costs. and the telegraph shows us the first official photograph of king charles attending to his red box papers in his new office at buckingham palace. and in the guardian, hilary mantel celebrated author of the will fall trilogy, her picture there. she died at the age of 70. —— wolf hall. no prizes for guessing where we're

going to start. not tosha, kick us off with this mini budget. —— natasha. is ita gamble, do you think? mini budget. -- natasha. is it a gamble, do you think? politically, economically. _ gamble, do you think? politically, economically, yes. _ gamble, do you think? politically, economically, yes. these - gamble, do you think? politically, economically, yes. these are - economically, yes. these are practical tax cuts. economists are saying up to 50 years since we've seen these levels. £115 billion worth of spending at least. we know it's going to push up borrowing even further. that's not something a lot of conservative mps are too keen on. but on the other hand, liz truss and kwasi kwarteng absolutely determined to go for growth. they say it's being held back by high taxes, high

regulation and they want to rip that all up in the hope they can get the economy moving again.— all up in the hope they can get the economy moving again. james, how did ou see it? economy moving again. james, how did you see it? the — economy moving again. james, how did you see it? the biggest _ economy moving again. james, how did you see it? the biggest package - economy moving again. james, how did you see it? the biggest package of - you see it? the biggest package of tax cuts since 1972, half a century. such a radical departure on the last few years of. such a radical departure on the last few years of-_ such a radical departure on the last few years of— few years of. absolutely and it's clearly going — few years of. absolutely and it's clearly going to _ few years of. absolutely and it's clearly going to be _ few years of. absolutely and it's clearly going to be welcomed i few years of. absolutely and it's clearly going to be welcomed by few years of. absolutely and it's i clearly going to be welcomed by a lot of— clearly going to be welcomed by a lot of people, but also not as well. this is_ lot of people, but also not as well. this is a _ lot of people, but also not as well. this is a hugely controversial set of announcements. not of them have different_ of announcements. not of them have different takes on it. —— lots of them — different takes on it. —— lots of them if— different takes on it. —— lots of them. if you look at the ft. pounds plunging _ them. if you look at the ft. pounds plunging below $1.09, the lowest since _ plunging below $1.09, the lowest since1985. it's been a seismic day of news _ since1985. it's been a seismic day of news and — since1985. it's been a seismic day of news and lots of talk —— to talk about _

let's have a look at the times. a similar kind of idea. liz truss says the times unveiling the biggest tax cuts in 50 years. how much of a gamble is it for her personally as a new prime minister? 1 gamble is it for her personally as a new prime minister?— new prime minister? i think it is a olitical new prime minister? i think it is a political gamble for— new prime minister? i think it is a political gamble for her. - new prime minister? i think it is a political gamble for her. it's - new prime minister? i think it is a political gamble for her. it's not l new prime minister? i think it is a political gamble for her. it's not a i political gamble for her. it's not a huge surprise if you're someone who's been following the rise of liz truss and the people around her. that's not a surprise that she's been banging on all summer about wanting to cut taxes. some of these pledges are not exactly a surprise. but it is really going for it. some things we didn't think about a couple days ago, i think if you sent to us the top rate of tax, i don't think anybody was predicting that.

there were some sure rabbits pulled out of the hat today by kwasi kwarteng. she hasn't got long to make this work. if liz truss and her entire policy isn't seeming to work by then, i think there's going to be a lot of angry conservatives who trusted her to get them out of their hole, and there's going to be a lot of angry voters. the economy, it it's not booming back by then or at least looking better than it does now, we could have a situation where she might be in a position to lose. she is gambling this all or nothing approach, saying it's her number one priority. now �*s the time to see if it works. priority. now 's the time to see if it works. , ., , priority. now 's the time to see if it works. , . , ., , , priority. now 's the time to see if itworks. , ., , , , . it works. james, it does seem such a radical departure _ it works. james, it does seem such a radical departure on _ it works. james, it does seem such a radical departure on the _ it works. james, it does seem such a radical departure on the premiership| radical departure on the premiership of borisjohnson. it feels like almost a new government that's just come in after a general election

rather than a new prime minister who just come in after a leadership campaign. just come in after a leadership campaign-— just come in after a leadership campaign. definitely. it's crazy when you— campaign. definitely. it's crazy when you think _ campaign. definitely. it's crazy when you think about - campaign. definitely. it's crazy when you think about it. - campaign. definitely. it's crazy. when you think about it. they've gone _ when you think about it. they've gone so — when you think about it. they've gone so radical, and i think it's a huge _ gone so radical, and i think it's a huge risk~ — gone so radical, and i think it's a huge risk. we talk about an election in 2024. _ huge risk. we talk about an election in 2024. but — huge risk. we talk about an election in 2024, but we'll see what happens throughout the winter. all of us are struggling _ throughout the winter. all of us are struggling to pay our bills this winter — struggling to pay our bills this winter. this won't be welcomed by a lot of— winter. this won't be welcomed by a lot of people who feel like this is benefiting a certain group of people more _ benefiting a certain group of people more than — benefiting a certain group of people more than a lot of others. if it goes — more than a lot of others. if it goes badly, we don't see the growth that they're hoping for, that we mighi— that they're hoping for, that we might be — that they're hoping for, that we might be seeing an election earlier than 2024. — might be seeing an election earlier than 2024, i would think. looking at the front— than 2024, i would think. looking at the front page, just some big figures — the front page, just some big figures and some words in there that really— figures and some words in there that really surprised me as well. £72 million — really surprised me as well. £72 million rise _ really surprised me as well. £72 million rise in government borrowing. quasi—part—time saying we

are in— borrowing. quasi—part—time saying we are in a _ borrowing. quasi—part—time saying we are in a recession technically. —— kwasi _ are in a recession technically. —— kwasi kwarteng. liz truss has made a hu-e kwasi kwarteng. liz truss has made a huge move _ kwasi kwarteng. liz truss has made a huge move today and it'll be interesting to see what's going to happen— interesting to see what's going to happen over the next two months. natasha, _ happen over the next two months. natasha, some economists are pointing out a contradiction where you had a bank of england who seem to want to tikal down with those rates down —— to cool down. and people saying the government is doing the opposite with these tax cuts. �* , , ., , doing the opposite with these tax cuts. �* ,,., , . . , doing the opposite with these tax cuts. �* , , . . , ., cuts. absolutely and it remains to be seen exactly _ cuts. absolutely and it remains to be seen exactly what _ cuts. absolutely and it remains to be seen exactly what the - cuts. absolutely and it remains to be seen exactly what the impact l cuts. absolutely and it remains to | be seen exactly what the impact of this will have. sort of hard to isolate. liz truss's main argument isolate. liz truss's main argument is that by capping those energy bills average at £2500, shall argue that will reduce inflation by up to

5%. what we don't know is how much some of these policies will fuel inflation. cutting stamp duty, i'm sure there are many economists arguing today that could fuel it further, especially in terms of house prices. there is a little bit out of a divide. it's now time to see that grow, but others who are worried exactly about the impact on inflation, we've seen some of the bank of england today suggesting there might have to be another interest rate rise. so it's absolutely a tricky time for the economy. inflation forfamilies, and while liz truss is her number one priority for growth, it remains to be seen how this will impact on

inflation. untilwe be seen how this will impact on inflation. until we see the small french, the fine print, which we don't expect for another few months, it's hard to see where this will go. james, let's just look at the guardian because there is a sort of political divide of the papers in terms of their reaction. more right—wing papers seem to be very happy with this mini budget. the guardian is calling it a budget for the rich, and i wasjust looking at commentary on the ft, who say it turns out that being rich is in fashion once again. the city is back, long live the wealth creators. but this is partly about the better off. it but this is partly about the better off. , , ., but this is partly about the better off. , ., off. it is. i saw some of those uuotes off. it is. i saw some of those quotes that you _ off. it is. i saw some of those quotes that you were - off. it is. i saw some of those quotes that you were talking l off. it is. i saw some of those - quotes that you were talking about on the _ quotes that you were talking about on the ft — quotes that you were talking about on the ft. the one particular line,

the city— on the ft. the one particular line, the city is — on the ft. the one particular line, the city is back, baby. which was quite _ the city is back, baby. which was quite something. there's a huge contrast— quite something. there's a huge contrast between the guardian and say the _ contrast between the guardian and say the daily mail. the guardian front— say the daily mail. the guardian front page is a budget for the rich. some _ front page is a budget for the rich. some really strong quotes in that guardian— some really strong quotes in that guardian front page. from labour mps _ guardian front page. from labour mps. rachelwreaths guardian front page. from labour mps. rachel wreaths called it casino economics _ mps. rachel wreaths called it casino economics —— wreaths. this budget does _ economics —— wreaths. this budget does benefit a small percentage more than the _ does benefit a small percentage more than the rest. kwasi kwarteng and liz truss— than the rest. kwasi kwarteng and liz truss believe this will create growth — liz truss believe this will create growth. only time will tell, but some _ growth. only time will tell, but some economists think it's not going to do— some economists think it's not going to do that _ some economists think it's not going to do that and some think it's the only choice —

to do that and some think it's the only choice. —— rachel reeves. so it's very— only choice. —— rachel reeves. so it's very interesting to see what the papers are saying. there's been a lot of— the papers are saying. there's been a lot of reaction online at across the country _ a lot of reaction online at across the country and a lot of people that are feeling — the country and a lot of people that are feeling not great about this. natasha, — are feeling not great about this. natasha, just looking at that guardian story, james mentioned what labour mps have been saying. the guardian said tory mps were some left aghast. if there is a level of concern, among some conservative mps of. mn among some conservative mps of. i'm sure there among some conservative mp5 of. my sure there is, but quite a lot were very happy. some of them were saying it's great they finally have a conservative government back in charge. it goes to show the depth of feeling. looking back at that, a

budget for the rich, this is not the measures which we are going to make the wealthy are even more wealthy. the government's will bargain is if you grow this economy, you grow the pie for everybody. that means that will help people get richer. it means we have more money to spend on public services. we boost those tax receipts and put more money back into public services. that's their entire gamble. it certainly one for the rich, but hopefully at some point, the government want to argue that will pay off. you point, the government want to argue that will pay off-— that will pay off. you are 'ust sa in: that will pay off. you are 'ust saying there i that will pay off. you are 'ust saying there that i that will pay off. you are 'ust saying there that the i that will pay off. you are just saying there that the tory . that will pay off. you are just - saying there that the tory mps like this, but in the leadership election, they preferred as a body of mps rishi sunak to liz truss. it's true, and rishi sunak was the

favourite among mps. she didn't take over until quite a long way in. most mps preferred choice at the very start. also, his slightly more for still conservative. —— fiscal conservative. it is a very radical approach. lots of borrowing really worries a tory mps, that their reputation as a party of looking after the finances, they do worry this will get ripped up by all this borrowing. james mentioned in the mail, so why don't we show it. it's celebrating this mini budget. no doubt there about what the daily mail think of it. they're kind of highlighting

income tax, also highlighting stamp duty slashed, rising level on beer and wine. there were a lot of measures apart from tax cuts. yeah, the stamp duty is — measures apart from tax cuts. yeah, the stamp duty is interesting - the stamp duty is interesting because _ the stamp duty is interesting because i actually, hopefully a buyer — because i actually, hopefully a buyer next year, so the idea of stamp — buyer next year, so the idea of stamp duty going would be great. but then we _ stamp duty going would be great. but then i've heard that house prices will go _ then i've heard that house prices will go up — then i've heard that house prices will go up as a result. i've heard certain— will go up as a result. i've heard certain expert saying that today. some _ certain expert saying that today. some people might feel happy to hear that news, _ some people might feel happy to hear that news, but not sure what it means overall. the rising levies on beer and _ means overall. the rising levies on beer and wine feels like a smaller detail, _ beer and wine feels like a smaller detail, which i'm sure some people will be _ detail, which i'm sure some people will be pleased to hear. definitely a positive — will be pleased to hear. definitely a positive spin but no surprises there — a positive spin but no surprises there. ., , a positive spin but no surprises there. . , . i. , there. can i 'ust ask you, being a first-time — there. can ijust ask you, being a first-time buyer, _ there. can ijust ask you, being a

first-time buyer, stamp - there. can ijust ask you, being a first-time buyer, stamp duty - first—time buyer, stamp duty changing is good for first—time buyers, but what about interest potentially going up? could be up to 4-5%. it potentially going up? could be up to 4-5%. , ., y ., ~ 4-5%. it is worrying, and i think we're not _ 4-5%. it is worrying, and i think we're not there _ 4-5%. it is worrying, and i think we're not there yet. _ 4-5%. it is worrying, and i think we're not there yet. it - 4-5%. it is worrying, and i think we're not there yet. it changesl 4-5%. it is worrying, and i think. we're not there yet. it changes the picture _ we're not there yet. it changes the picture i_ we're not there yet. it changes the picture. i think i'm not sure and i'm picture. i think i'm not sure and i'm not— picture. i think i'm not sure and i'm not really sure what to think right— i'm not really sure what to think right now — i'm not really sure what to think right now i_ i'm not really sure what to think right now. i think we'lljudge it as the months — right now. i think we'lljudge it as the months go along. we'll try and work out our finances. let's move away from economics and the chancellor's mini budget. we fed the chancellor's mini budget. we fed the death of an ounce of hilary mantel and it's the focus of the times's big picture. it's also in a couple other papers. she died at the age of 70. the created of the wolf

hall trilogy, described as one of the great