• £10.1 billion surplus by 2020

• £12 billion of welfare savings

• GDP forecasts: 2015 – 2.4%, 2016 – 2.4%, 2017 – 2.5%, 2018 – 2.4%, 2019 – 2.3%

• OBR forecasts a £27 billion improvement in UK finances over this parliament

• MASSIVE U-TURN: Tax credit cuts scrapped entirely: “the simplest thing to do is not to phase these changes in, but to avoid them altogether”

• Government is spending £756 billion this year, rising to £857 billion in 2020/21

• Borrowing forecasts: 2015/16 – £73.5 billion, 2016/17 – £49.9 billion, 2017/18 – £24.8 billion, 2018/19 – £4.6 billion, 2019/20 – £10.1 billion surplus

• NHS budget to rise by 20% by 2020: £101 billion this year, £120 billion by 2020

• Basic state pension up to £119.35 a week

• Department of Health to cut 25% from its Whitehall budget

• Department for Energy and Climate Change budget cut by 22%

• Department for Transport budget cut by 37%

• Cabinet Office budget cut by 26%

• Treasury budget by 24%

• Business, Innovation and Skills cut by 17%

• Defra cut by 15%

• 20% DCMS admin cut, 5% cut real terms core budget cut

• Proceeds of tampon tax to go to women’s charities

• Holloway women’s prison to close

• Doubling of housing budget: 400,000 new affordable homes by 2020

• Introduction of ‘London Help To Buy’, with a 5% deposit and zero interest rates

• Extra 3% stamp duty on buy to letters

• Defence budget rising from £24 billion to £40 billion

• No cuts in police budget at all

Good luck John McDonnell…