Rachel Reeves has claimed the Conservatives were overspending by £22 billion, laying the groundwork for spending cuts and tax rises. She confirmed that the Autumn Statement will be on 30^th October. The main announcements from her speech today are:

• Cost of funding public sector pay rises will be £9 billion.
• Government departments to make £3 billion of cuts.
• Rishi Sunak’s reforms to A-Levels cancelled.
• A 22% pay rise over two years for junior doctors – despite moaning that strikes under the Tories cost the taxpayer £1.7 billion in the past year.
• The universal winter fuel payment for millions of pensioners scrapped, despite election promises.
• Boris Johnson’s pledge to build 40 new hospitals by 2030 scrapped.
• First of the transport projects to be scrapped are works on the A303 (the Stonehenge tunnel), A27 (Arundel bypass) and the Restoring our Railways scheme.

Reeves finished on an ominous note: “I have to tell the House that the budget will involve taking difficult decisions to meet our fiscal rules across spending, welfare and tax.” On the day before Halloween, the Autumn Statement will no doubt be a scary one…