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immediate spending cutsSky News
•74% Informative
Rachel Reeves will say the last Tory government has gone "over budget" in the 2024/5 financial year .
She will then set out some immediate cost savings, to cover some - but not all - of this 20bn shortfall.
But as much as Labour insist this is all a surprise - with some, though not total justification.
Watch closely how different categories of spending make up the 'black hole'.
Labour will announce spending cuts to existing 2024/5 budgets to make up in-year shortfall.
This will likely include the immediate suspension of road projects, such as the tunnel under Stonehenge , and the suspension of Boris Johnson's 40 hospital building projects.
Some of the overspends identified today will have a knock-on effect on future years .
We won't know the full impact of the cuts until the spending review on the same day as budget.
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