Michael White is in Westminster where MPs have been digesting a major speech by David Cameron in which he set out the scale of Britain's deficit and how he intended to deal with it. Cameron said that immediate cuts were needed and that they would affect everyone in the country.
We hear from Labour MP and former chief secretary to the Treasury Stephen Timms who says that immediate cuts on the scale proposed by the Conservatives risk plunging the country back into recession. He also describes the horrific attack made on him in his constituency office on his first day back at the Commons after recovering from stab wounds to his stomach.
At the Guardian's HQ, economics editor Larry Elliott explains to Jon Dennis what the effect of Cameron's approach to tackling the deficit will be, and whether his figures stack up.
Meanwhile, ConservativeHome blogger Jonathan Isaby says that Cameron's planned deficit reduction programme is only necessary because of reckless spending during Gordon Brown's tenure as chancellor.
As Labour leadership candidates set out their policies at the first major hustings in Southport, there is controversy as MP John McDonnell said he'd like to "go back to the 1980s and assassinate Thatcher".
And in other news, after twin babies are attacked in their east London home, how worried should we be about urban foxes? We ask John Bryant, a wildlife consultant who specialises in foxes.
