Of course, nobody knows until later today. Even then, important details will probably not appear until the DfT publishes its Business Plan, expected next week.. And don’t forget the art of spin will be in play. We have no inside knowledge, but there are plenty of tea leaves….
So what can we expect? Something over 25% expenditure cut (but not 40%) means some dramatic changes. But they won’t be wrought overnight, or even in the first year: they will accumulate over the next...
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