Margolyes – who is known for being candid during interviews – said: “When I saw him there I just said ‘you have quite a task, good luck’.”
She proceeded to say that she had really needed to let him know something else, yet added that “you can’t say that”.
“Gracious, no, no, no, you mustn’t say that. No, you can’t say that!” Webb expressed, saying ‘sorry’ for the language.
Mr Chase was partaking in his most memorable round of media interviews since being selected the new chancellor, and had let the BBC know that tough choices would be required on assessment and spending.
After the Margolyes interview, the Today program immediately continued on toward the games area.
Afterward, Webb apologized for the episode saying: “When I watched the Rugby on BT Game they generally apologized when you hear words that you conceivably shouldn’t have heard, as they put it on BT Game in the scrum.
“Indeed, we apologize to you in the event that you heard a word that you shouldn’t have heard, prior on.
“However, the remainder of Miriam Margolyes’ meeting was brilliant.”
Webb finished the program by saying it had been a “exceptionally momentous morning”.
“Miriam Margolyes” was moving on Twitter after the show, with individuals sharing clasps of the radio meeting.
Previous BBC columnist Jon Sopel tweeted a progression of chuckling and humiliated emoticons in response.
Webb answered with the tweet: “Yes it was a decent meeting” – and an opened-mouth emoticon.