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The Prime Minister has warned that the budget this october will be painful, in his first major speech from no 10 since becoming Prime Minister. Speaking in the rose garden, he said his government had inherited a black hole in the public finances, of £22 billion. Those with the broadest shoulders should bear the heaviest burden, he cautioned, but he also said there would be big asks of everyone. The conservatives responded by saying the speech was an indication that labour had been planning tax rises all along. Vicki young has our top story. Blue skies and sunshine, but the Prime Minister didnt come here to paint a rosy picture. He has accused the conservatives of wrecking the economy, leaving him to put it right. There is a budget coming in october. And it is going to be painful. We have no other choice, given the situation that we are in. Those with the broadest shoulders should bear the heavier burden. I will have to turn to the country, and make big asks of you as well. Its already

In gazaMedal hopesBbc newsNoel gallagherBolter oneWarring liamUs openNew yorkPrime ministerBlack holeRose garden22 billion2 billionDidn tPlanning taxVicki young