Told You So?

Finger pointing begins as Labour claim they found a "black hole" in public finances. On Monday, Chancellor Rachel Reeves announced changes to the Winter Fuel Payment and later said the new government would have to raise taxes due to the discovery of a £22bn "black hole" in the public finances from the last Government, which former Chancellor Jeremy Hunt strongly denies. Is this political theatre or was it a genuine surprise to the incoming government and related public finance bodies like the OBR? Is this austerity, as some opposition parties have claimed, or are the government actually spending more than previously? And what does this mean for the money coming to Scotland? Before Podlitical breaks for recess, the team untangle this week's news, and look ahead to what we can expect in September and beyond when the Parliaments return.