Gordon Brown set out his economic vision yesterday saying it should be ambitious, and aspiring while predicting a period of strong growth.
Gordon Brown: "strength and stability"
As Mr Brown set out his stall to the House of Commons, he'll be mindful that this Pre Budget Report (PBR) will provide the foundation for a crucial budget next April.
And that could of course be followed by a General Election later in the spring.
Breakfast spoke to the Chancellor of the Exchequer Gordon Brown
We asked Mr Brown to outline the detail of yesterday's PBR
Mr Brown said "prudence is at the heart of everything we do." He defended his budget as one which gives stability, and realises the key to a healthy economy: getting more people back to work. He added his spending plans are affordable and pensioners and families stand to benefit.
We also heard from the Shadow Chancellor Oliver Letwin.
Oliver Letwin said the Chancellor hasn't talked about public finances, or about the black hole in his finances. He also said Mr Brown will have to raise taxes substantially - as the money is not being spent wisely. Mr Letwin added the Chancellor needs to free civil service recruitment and to give better value for money.
And we spoke to the Liberal Democrats treasury spokesman Vince Cable
Vince Cable said he would like to see a proper independent system to check the Chancellor's budget balances up. He also said the budget is very tight and tough choices need to be made.
Despite the Chancellor's upbeat picture of the economy, the Conservative party said it was concerned about a 'black hole' in its spending.
Top story on the party's website said:
"The government is wasting, spending and borrowing so much of taxpayers' money that, if Labour wins the next election, it is clear that there would be another round of stealth tax rises.
Meanwhile the Liberal Democrat leader Charles Kennedy said the chancellor must avoid spin "and ensure the public trusts the government's figures."
You can find out more about the Chancellor's Pre Budget Report from the 'in depth' link on the right of this page.