Rachel Reeves' first statement as the new Chancellor has kicked off a huge political row. She accused her predecessor Jeremy Hunt of lying about the 'true state' of the UK's finances - and he hit back calling her ‘shameless’. So was there actually a ‘cover up’ by the previous government? And the big question: Does this mean higher taxes?

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Guest: Mehreen Khan, Economics Editor, The Times.

Host: Luke Jones.

Producer: Olivia Case.

Clips: Parliament TV, Sky News, Times Radio.

Further listening: Labour: Meet Starmer's top advisors

Further reading: 'Is Rachel Reeves right to rule out China tariffs?' by Mehreen Khan

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