The question that everyone in Westminster wants answered is what will actually be included in next week’s Spring Statement. Previously, the Spring Statement wasn’t looking like much to write home about – little more than an update. But with the economy taking a turn for the worse and her fiscal headroom narrowing, it has taken on renewed importance for Rachel Reeves, with the opposition trying their best to brand it as an ‘Emergency Budget’. What does Reeves need to do to calm the markets?

Also on the podcast, Pensions Minister Torsten Bell gave an interesting interview to Newsnight last night, defending the government’s welfare reforms. Where are we with the fallout from Liz Kendall’s benefit crackdown?

James Heale speaks to Isabel Hardman and Katy Balls.

Produced by Oscar Edmondson.