Good morning. Autumn is such a special season: crunchy leaves on the ground, pumpkin spice lattes, and devastating fiscal events. Today Jeremy Hunt will mark the latter in the House of Commons, standing up to deliver a delayed corrective to the brief reign of Liz Truss and Kwasi Kwarteng that the government hopes will put the public finances on an even keel and set the Conservatives on a better path to the next election.
With £55bn in cuts and tax rises expected, that looks a very tall order – and critics of the government argue that this kind of tightening is exactly the wrong way out of the current crisis. Later this morning, Hunt will set out the specifics of a new era of austerity by telling parliament: “We will face into the storm.” Today’s newsletter is your essential guide to some miserable November weather.
