The Telegraph’s Gordon Rayner has a write-up, comparing it somewhat generously to Roosevelt’s New Deal. TOP LINES: Overnight the Treasury released details of its new spending package on jobs. ONE FOR THE TWITTER GRAPHICS: Another government official (who is far too pleased with themselves) tells Playbook there will be two things we’ll be hearing ministers bang on about as their flagship policies over the next six months: “Jabs and jobs.” “Supporting the economy is absolutely the right thing to do now.” But the official stressed: “If we want to be able to respond to future crises on this scale again, we will obviously need to return to a sustainable footing in the future.” “No one thinks we can sustain borrowing on this level indefinitely but now is not the time to address this,” a Treasury official tells my POLITICO colleagues Charlie Cooper and Emilio Casalicchio in their excellent primer for what is coming from the chancellor today. has to take painful choices soon, but for the moment the current levels of massive borrowing must continue. WHAT TO EXPECT: Sunak’s main argument - other than that it’s acceptable to be photographed wearing a hoodie over a shirt and tie - will be that the U.K. Plus a proper row is coming this afternoon if Sunak, as expected, breaks a Tory manifesto commitment and slashes Britain’s overseas aid budget. But the scale of the challenge ahead will be laid bare when the latest Office for Budget Responsibility forecasts are published alongside the spending review, predicting a large spike in unemployment, a major reduction in GDP and a huge hole in the public finances lasting until the next election. The chancellor delivers his one-year spending review in the Commons at 12.30 p.m., which his team says will prioritize “jobs, jobs, jobs” and focus on supporting the country through the COVID crisis, deferring most of the difficult decisions on cuts and tax rises for now. JABS AND JOBS: Rishi Sunak will this lunchtime unveil a £4.3 billion package aimed at creating hundreds of thousands of jobs to stave off a looming mass unemployment bombshell caused by the coronavirus pandemic. Send tips here | Subscribe for free | Listen to Playbook and view in your browser
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