In the wake of the spring budget's unveiling, a stark revelation awaits us. As I stepped into the treasury on my first day, officials alerted me to a disconcerting reality – the spending figures presented were not in alignment with the previous government's expectations. The discrepancy was significant, with an additional £35 billion in budgetary pressures across various sectors. This, coupled with the usual annual budgetary slippage and a £9 billion reserve for unexpected events, leaves us facing a projected overspend of £22 billion. If unaddressed, this would result in a 25% increase in the budget deficit this year.