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but iyou've got it on a trajectory, it's gone up and it's then going to go down. well. hang on. just let's just explain exactly what happened. so in that 2020 budget, when rishi sunak was chancellor, it was the biggest ever increase. now, i then had to balance the books a year ago. it was an incredibly difficult situation, but it was necessary for the markets and it was necessary for the battle against inflation. so what i chose to do was to freeze that capital budget in cash terms, which is not a freeze in real terms. i hope as soon as we can afford to, we can get back to real terms...

down and manage expectations that labour would suddenly be able to change that in a matter of weeks. there is a concern among some in labour that the excitement from some would quickly turn to disappointment when that realisation hits. i think what we know from what labour have said about the speech is keir starmer will say the uk faces huge constraints on public spending. and that anyone expecting a labour government to quickly turn on the spending tops will be disappointed. and hanging heavy in the air here in westminster is that election next year, is the prospect of that. and kno...

with harry maguire already ruled out of the squad through injury, fellow centre halfjohn stones missed training today with an illness adding to england's fitness concerns in defence. the sense that southgate will have to draw on all his experience if he's to finally guide his team to glory. dan roan, bbc news, blankenhain. time for a look at the weather. here's stav da naos. tonight, rishi sunak underfire for the conservative government's record, as keir starmer refuses to rule out a series of tax rises. will any of it shift the dial? good evening. welcome to newsnight, with the best...

Few days ago we heard, not cutting public spending, it feels like that has shifted again. sojeremy hunt i think today has called time on trussonomics and the prime minister's vision for the economy. he will have to make some tough decisions, and mps will not like that, and there will be financial challenges for people because the spending taps will not be as fulsome perhaps as we were all led to believe. and yes, where does that leave the markets? probably in a slightly better place because they see the books are being balanced, but politically and ahead of a general election where normally go...