While the PM's announcement feels like a big deal, in reality the situation is complicated and caution is required.
Liz Truss has said publicly what Downing Street has said privately for some time: that there will"absolutely" be no public spending cuts.
The prime minister wants to be seen sticking to the promise she made during the leadership campaign. It drew gasps in the chamber and sounds like a big deal: but it's complicated and some caution is required. This is a more wide-ranging commitment than the line from the Treasury for the last couple of weeks that the chancellor would stick to the three-year spending plans set out under Boris Johnson's government in 2021.
However there is much public spending outside of Whitehall departmental totals presumed to be in the firing line, as this government works out how to credibly fill the black hole created by the mini-budget with its tax cuts and energy price plan. And post-2025 spending settlements are clearly under fire.
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