There were few surprises in Rachel Reeves’s spending review today. Health was the big winner, with a £29bn increase in day-to-day spending and £39bn was announced to build social and affordable housing. The main eyebrow-raiser was the announcement that the Home Office will end the use of hotels for asylum seekers within this parliament; this could save £1bn or it could become Labour’s ‘stop the boats’ moment. The bigger picture was confusing – with increases measured against levels three years ago, is there really as much cash as Rachel Reeves wants you to think there is? And what’s the strategy behind it all?

The Spectator’s new political editor Tim Shipman joins deputy political editor James Heale and economics editor Michael Simmons to breakdown the Chancellor’s speech.

Produced by Patrick Gibbons.

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