Is Truss ruling out spending cuts?

Did Liz Truss misspeak or did she mean it when she said that she wouldn’t go ahead with spending cuts, as promised in her leadership campaign? On the episode, Cindy Yu talks to James Forsyth and Katy Balls about what the Prime Minister could have meant, given the need to balance the books to pay for her tax cuts. James suggests that there may be a question over whether she meant nominal or real spending cuts. Whatever it is, the government needs to do more to reassure the markets – the team also discuss whether or not the Bank of England’s bailout will really end in the coming days.