How will the £40 billion additional tax revenue raised in the October Budget be spent? Efficiently, says the Chancellor this morning, who is setting out her plans for a war on waste.

Rachel Reeves has informed government departments this morning that there will be a ‘line-by-line review’ of budgets leading up to the Spending Review next spring, while ministers are ‘expected to find savings and efficiencies… in a push to drive out waste in the public sector and ensure all funding is focused on the government’s priorities’ – specifically the priorities laid out in the Prime Minister’s ‘Plan for Change’ last...