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Hello and welcome to Coffee House Shots, the Spectator's Daily Politics Podcast. I'm

Oskrevenson and I'm joined today by Katie Balls and John McTurton. Tomorrow is, of course,

the spring statement where Rachel Reeves will be hoping not to spook the markets, but also,

crucially, not to spook members of her own party. Casey, what is the lay of the land ahead of

tomorrow's big fiscal event? So as has been said many times, it wasn't meant to be a big fiscal event. It was meant to be an update with the budget being the large fiscal event. So as has been said many times, it wasn't meant to be a big fiscal event. It was

meant to be an update with the budget being the large fiscal event. You have the Tories calling it

an emergency budget. Labor saying it's not an emergency budget. And there was some excitement last

week when Kirstama at Prime Minister's questions refused to rule out when pressed.

Could you see the freezing of the thresholds?

However, since then, I do think there's been an effort by labour figures to play down the idea that this is happening.

It doesn't mean it won't happen.

We're speaking powerlessly close to an event, so you never want to make too bold a prediction.

But certainly the mood music is the

spring statement is going to be about cuts and savings, which is Rachel Ree's preferred way

...