Chancellor’s U-turn means about 2mn pensioners will lose annual subsidy of up to £300

Consolidation of funds makes evident sense, bringing economies of scale and scope

Chancellor’s U-turn means about 2mn pensioners will lose annual subsidy of up to £300

Change means about 7.5 million pensioners in England and Wales who lost out on payment will have it restored

But chancellor’s large scale capital investment will contrast with tight budgets for many Whitehall departments

Chancellor is expected to launch borrowing-fuelled increase but tight budgets for many departments

Home Office and Foreign Office among departments facing squeeze in UK chancellor’s spending review

The UK government must now show it can turn investment into growth