“Our economic emergency has only just begun”. That was how the Chancellor Rishi Sunak kicked off his 2020 Spending Review.
There were some sobering forecasts from the Treasury’s independent forecaster, the Office for Budget Responsibility - the worst hit to GDP this year since 1709 - a deficit of £394bn of GDP this year (almost 20% of the entire economy).
Plus some very politically controversial decisions - a cash freeze in the pay of many public sector workers - a cut in the foreign aid budget.
Economics Editor Bn Chu is joined by Political Editor Andrew Woodcock and Business Reporter Ben Chapman to break down what the Chancellor announced.
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