By Darren McCaffrey, Political Correspondent
As Ed Balls and George Osborne prepare to take questions, here is how the two political bruisers line up.
:: George Osborne
EDUCATION: Privately educated at St Paul's School, London and then Magdalen College, Oxford where he studied modern history.
FAMILY LIFE: Married to Lord Howell's daughter Frances. They have two children.
FIGHTING WEIGHT: He may physically be a lightweight but has proven an astute political operator.
POTTED HISTORY: A career politician, he worked at Conservative Central Office before becoming a MP in 2001. As Chancellor he has imposed an austere programme of cuts, presided over what was described as an "omnishambles" budget but ultimately has led the UK economy to become the fastest growing in the G7 with falling unemployment and low inflation.
HARDEST BLOW: The pasty tax, the caravan tax, the church tax - the budget of 2012 was viewed as a disaster for the Conservatives which allowed Labour to gain a lead again in the polls, something which has largely remained unchanged since.
GLASS CHIN: That the cuts have been too austere, too unfair and the recovery too unbalanced.
MOST LIKELY MOVE: You will hear "long-term economic plan" more times than you can count.
LEAST LIKELY MOVE: To move away from deficit reduction, even when under severe pressure to change tack, the Chancellor has at least stuck to the rhetoric if not always the letter of his original Plan A.
:: Ed Balls
EDUCATION: Privately educated at all-boys Nottingham High School. He went on to attend Keble College, Oxford where he gained a first in Philosophy, Politics, Economics.
FAMILY LIFE: Married to shadow home secretary Yvette Cooper. They have three children.
FIGHTING WEIGHT: The ultimate political heavyweight and not just because of appearance.
POTTED HISTORY: At Gordon Brown's side for years, he effectively ran the Treasury on a day-to-day basis, stopped Britain joining the euro, made the Bank of England Independent and helped oversee huge increases in public spending. But is always widely associated as being one of the people in charge when the UK nose-dived in the world economic crash.
HARDEST BLOW: Abolishing 10p tax rate in 2007, Balls has subsequently described it as a mistake saying "people understandably thought Labour was no longer on the side of the hard-working people we have always sought to help".
GLASS CHIN: While people do listen to Ed Balls, he does manage to divide opinion and is not trusted by many to run the economy again.
MOST LIKELY MOVE: That for many, the wider economic recovery is not being felt. A Conservative recovery is unfair and unbalanced.
LEAST LIKELY MOVE: To argue against any form of continued austerity. Economic credibility means a commitment to cuts.
:: George Osborne will face live questions from 2.30pm and Ed Balls from 3.30pm on Sky Channel 501, Virgin Media channel 602, Freesat 202, Freeview 132 as well as all digital platforms, including the Sky News Facebook page and YouTube channel.
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