According to Adam Boulton, Our Dear leader will say something along these lines this when addresses the TUC:
We will cut costs, we will cut inefficiencies, we will cut lower priority areas and lower priority spending but what we will not do is support cuts in vital front line services.
If that is what he says, then the PMS has got it spot on:
This is not the momentous occasion that perhaps it's being presented as..
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