With reports of ‘billions’ of spending cuts earmarked for the Chancellor’s Spring Statement, taking place later this month, Michael Gove and Kate Andrews join Katy Balls to discuss what exactly Rachel Reeves could cut. With little fiscal headroom and sluggish forecasts of growth, Reeves doesn’t appear to have many options. It’s likely that welfare will be targeted, and there are reports that Labour’s opposition to new North Sea oil & gas licences may be relaxed to stimulate growth. One area that appears off the table is defence – following the Prime Minister’s pledge to cut international aid in order to fund new defence spending. 

But if all these reports are true, where does that leave Labour ideologically? Could Labour’s left be heading for what Michael calls their own ‘winter of discontent’? And what appetite does a weary British public have for further spending cuts?

Produced by Patrick Gibbons.