We’ve got to come together as a team now, reset and focus on how we work collectively to deliver for the country. And get back out on the #LabourDoorStep🌹

And when you factor in the polling evidence, it suggests that to start to revive our poll numbers we need to pivot to a traditional Labour position

GBP/USD fell sharply too (see chart).

Not quite mini-budget levels, but markets clearly flinched during #PMQs.

The lesson from the mini-budget?

Don’t leave a vacuum when markets are this volatile... or events will end up controlling you!

And crucially, this investment is broadly progressive!🌹

The biggest public service gains go to lower-income households, both in cash terms and as a share of income... #SpendingReview

Another chart, this from ResFo, that shows the scale of change under Labour.🌹

Since Mar 2024, Labour in govt is adding £402bn in extra departmental spending by 29/30 - including £276bn for day-to-day public services.

A clear step change after years of restraint! #SpendingReview

Another interesting chart, likely to feature in IFS/ResFo analysis, in 28/29, households in the top half of the income distribution (approx. £33k–£63k+) gain more in cash terms from tax & benefit changes than lower-income households (<£33k). Driven by NIC cuts and PIP/UC reforms...😬 #SpendingReview

Likewise, from Nov 2026, PIP claimants will need to score 4+ points in one activity to qualify for a daily living award, and HMT expects this to save a huge £4.5bn by 29/30... this seems bigger than previously briefed. #SpendingReview

Yields in the corridor indicate that the OBR’s forecasted headroom (to 2029) is under pressure...

The past few days will have concerned some, as sustained higher rates risk pushing the average above target.

It’s not a cliff edge, but the margin for error shrinks fast!