IFS chief on Chancellor's proposal to reset the economy

Paul Johnson, from the independent research organisation the Institute for Fiscal Studies, says he thinks the Chancellor is "thinking through what he wants to do in terms of tax and spending", because he expects economic news in the Autumn statement will be worse than predicted in March.

Speaking to Shaun Ley on the World at One, Mr Johnson said it was "absolute nonsense" to suggest the Chancellor was talking down the economy, but that businesses were reacting to the "uncertainty" post Brexit.

(Photo: Paul Johnson)