Why the new chancellor's tax cuts are so risky

The biggest swathe of tax cuts in 50 years is the new government’s bold first step to solving Britain’s economic crisis.

It backfired back in 1972 - so why is the new chancellor so confident history won’t repeat itself?

And what could happen if he’s wrong?

From Westminster, our Political Reporter Shehab Khan tells Lucrezia Millarini what you need to know…