pre-announcements, _ big spending? when you look at the pre-announcements, they - big spending? when you look at the pre-announcements, they have - big spending? when you look at the l pre-announcements, they have been pre—announcements, they have been designed _ pre—announcements, they have been designed to— pre—announcements, they have been designed to sound as big as possible. they have been stretched over a _ possible. they have been stretched over a period of years, it is mainly capital— over a period of years, it is mainly capital spending. so that is long—term investment spending on things— long—term investment spending on things like — long—term investment spending on things like nhs equipment, much—needed to deal with the huge waiting _ much—needed to deal with the huge waiting lists, but that has long—term spending. it doesn't necessarily count against the key borrowing — necessarily count against the key borrowing targets, for example. even at 20 _ borrowing targets, for example. even at 20 billion, which is a lot of money, — at 20 billion, which is a lot of money, when you consider a spending review, _ money, when you consider a spending review, day—to—day spending is £450 biiiion— review, day—to—day spending is £450 billion per— review, day—to—day spending is £450 billion per year, you stretch that over_ billion per year, you stretch that over a _ billion per year, you stretch that over a per— billion per year, you stretch that overa peryear billion per year, you stretch that over a per year basis, billion per year, you stretch that overa peryear basis, it billion per year, you stretch that over a per year basis, it is not quite — over a per year basis, it is not quite as— over a per year basis, it is not quite as big _ over a per year basis, it is not quite as big as it sounds. if you read _ quite as big as it sounds. if you read between the lines there, i think— read between the lines there, i think it — read between the lines there, i think it is — read between the lines there, i think it is going to be quite a tight— think it is going to be quite a tight series of spending decisions that they— tight series of spending decisions that they have made. that's because, as you _ that they have made. that's because, as you say, _ that they have made. that's because, as you say, trying to decipher this new age _ as you say, trying to decipher this new age rhetoric, it is sort of moving — new age rhetoric, it is sort of moving on— new age rhetoric, it is sort of moving on from two years nearly of emergency— moving on from two years nearly of emergency rescue rishi if you like, to re—establish himself as the chancellor he would have wanted to