Paul Johnson, the outgoing director of the Institute for Fiscal Studies, is preparing to leave for a new role at an Oxford college. In his recent analysis, he did not hold back in his assessment of Rachel Reeves’s spending review. Johnson, known for his meticulous financial analysis, delivered a scathing critique of the chancellor's plans.

Traditionally, the IFS press conference serves as the place where budgets and spending reviews face rigorous scrutiny. Johnson's unbiased approach ensures that no chancellor, regardless of party affiliation, escapes unscathed. Reeves's spending plans, according to Johnson, are on thin ice and could lead to tax increases in the near future.

Johnson raised concerns about the credibility of the proposed £14bn efficiency savings, suggesting that the Treasury's approach lacked serious analysis. He emphasized that the economic forecasts and public finances had not shown improvement over the past year. Despite Reeves's optimism, Johnson remained unconvinced.

He concluded that spending reviews are often works of fiction, driven by hope rather than reality. Johnson predicted that future revisions would be necessary, particularly in health and defense spending. Reeves's spending review, while the only viable option at present, faces significant challenges in funding.

During a media interview, Reeves skillfully navigated questions about potential tax rises and economic stability. She presented a strong economic plan compared to other politicians. However, doubts remain about the feasibility of financing her proposals.

Meanwhile, Kemi Badenoch's appearance on a morning show turned into a heated exchange with the presenter, highlighting the challenges faced by politicians in defending their policies. In the Commons, David Lammy received praise for securing a deal with the EU regarding Gibraltar, with some dissenting voices expressing concerns about the agreement.