there is already cabinet office cabinet minister, but we understand that chris philp could be demotedl about the signal to the markets that the people who are at the top of this economic policy are no longer involved with this economic policy. the question is, though, there is a door plate number 10 downing street, and it says first lord of the treasury. in other words, and it says first lord of the treasury. in otherwords, if and it says first lord of the treasury. in other words, if you see that brass plaque, which gets shine to perfection every morning, i've been there in the very early hours of the morning and have seen the cleaner is doing it, it says first lord of the treasury. in other words, that is the boss. the buck, in harry truman's word stops there. that tension between downing street and the treasury is exemplified in the relationship between the first lord of the treasury and the second lord of the treasury and the second lord of the treasury, in other words the chancellor of the exchequer. we will bring in more than that letter injust a few will bring in more than that

but, you know, chris philp, chief secretary, was out saying, you know, fiscal rectitude and disciplinell remains at the heart of what we want to do. it's a very important message for the market and the world to understand. but if you look at some of the stuff that was was announced last friday, particularly the i mean, the technical word is supply side, but actually it's measures to make it easier for people to go to work. easier to make wealth. easier to save money you to spend money. and to spend money. you know, all those kind of things are are coming down the track over the next few weeks. and i'm hopeful that all of that will hang together as a package, that people can see what the plan is. and the prime minister is somebody who very definitely has a plan. i guess what people might say is, well, she should have spelt out that plan in the budget. we're not allowed to call a budget. so that that awful phrase, no, it's not yours. fiscal rectitude. in other words, what we used to call sound money, making the numbers add up was clear to the markets there. to the markets there and then.

the messages, with the move of chris philp as former chief secretary to the treasury into the cabinetis that there is a new regime at the treasury and the prime minister has listened to concerns and has been taking soundings from her backbenchers all week and this is clearly trying to send a message of having taken decisive action and then there will be the question of what policy changes she announces this afternoon, but i think this is a tricky line for the prime minister to tread because she is so closely associated with the policies in that mini budget, and she has had to sacrifice her close friend and political ally in kwasi kwarteng to try to hang on to her own position, but i think a lot rests on what she says this afternoon, because her position right now is far from secure. w , position right now is far from secure. , ., , , secure. exactly. there has been talk, secure. exactly. there has been talk. apparently. _ secure. exactly. there has been talk, apparently, on _ secure. exactly. there has been talk, apparently, on the - secure. exactly. there has been talk, apparently, o

, who is kwasi kwarteng'sjunior at the also lose chris philp, who is kwasi kwarteng's junior atmarket. there's quite a lot of pressure on liz truss to change a top team, whether that looks like a call on the red phone to rishi sunak, we don't know yet, but it will be interesting to see.- will be interesting to see. would love to see _ will be interesting to see. would love to see and _ will be interesting to see. would love to see and hear— will be interesting to see. would love to see and hear the - will be interesting to see. would love to see and hear the phone i will be interesting to see. would i love to see and hear the phone calls that are going on right now. you have sort of outlined the challenge that liz truss has right now, it is a difficultjob, isn't it, because on the one hand she has to balance that political competency, the idea of coming up with a policy, sticking to it, doing what you think is best evenif to it, doing what you think is best even if it is unpopular, and she has been very clear, she says she is prepared to make unpopular decisions. but the reality

the departure of kwasi kwarteng, chris philp and who was moved out of the cabinet, and of course suellauld be provocative to move him. i think| provocative to move him. i think that is probably _ provocative to move him. i think that is probably true, _ provocative to move him. i think that is probably true, but - provocative to move him. i think that is probably true, but we - provocative to move him. i think. that is probably true, but we have not had that confirmed from mr sunak's team yet. so let's see. other big jobs that need to be handed out over the next few hours, i think we will see some departures from cabinet, and what rishi sunak will want to do is to things. get a team around that table that he trusts, and that i think will involve getting some of his allies in there, people like dominic raab who was a key supporter over the summer. what it will also mean is keeping parts of the conservative party who haven't always been supportive of mr sunak close. that may mean some allies of boris johnson, some allies of liz truss. i think he wants to have a cabinet thatis think he wan