Member

“On my first day as Chancellor of the Exchequer, I asked Treasury officials to assess the state of public spending. That work is now complete and I am today presenting it to this House. In this Statement, I will do three things. First, I will expose the scale—and the seriousness—of what has been uncovered; secondly, I will lay out the immediate action that we are taking to deal with the inheritance; and thirdly, I will set out our longer-term plans to fix the foundations of our economy. Let me take each of these points in turn.