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Play responsibly not available in Northern Ireland. Andrew Dillicose, executive director of Europe

economics. Andrew, very good morning to you.

So, the spring statement is coming out.

We're literally just a couple of hours away from it now, I suppose, maybe three.

Compared to what's going on in Europe and the rest of the continent, how is Britain's economy doing?

Oh, well, we've, everybody's suffering just at the moment across the EU.

Germans have been doing badly recently and in particular,

but the UK position is probably at the outer end of dodgy.

So our fiscal position is very awkward.

There's no very straightforward way through this

without Rachel Reid's having some considerable luck.

We are unlikely to manage to meet

our fiscal goals over the medium term. She isn't able to raise taxes. She's any further without

the economy probably going into recession. We are going to have a lot of talk today about how

there's going to be some cuts in spending from

the welfare budget. But actually that's just reversing about one seventh of the spending rises,

which she announced only a couple of months ago in the October budget. So that's not really,

it's Raji Cosmetic. It's sort of fake row like the winter fuel payments was a fake row last year. Because the reality is that she's committed to spending going up every single year in real terms.

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