The OBR says the pension saving behind the Conservatives' claim of a £1bn defence cut nets off across government, and the Treasury disputes the claim, the Spectator reports.
The Conservatives say the Chancellor, John Healey, is announcing £1bn a year less on defence than Rachel Reeves planned when the Defence Investment Plan was published in June. Shadow defence secretary James Cartlidge said earlier that the £1bn covered the coming two years, so the period of the claim varies between reports.
According to the Spectator, the OBR's view is that what departments gain in lower pension contributions, the government loses on the value of pension schemes. The two net off.
This supports what PA reported from the Budget document earlier. The lower figure comes from pension costs, not from a decision to spend less on the armed forces. Calling it a cut remains misleading.
The Spectator also reports George Osborne describing the Budget as "the least consequential Budget that I can remember" on tax and spend. Robert Jenrick called it the "mañana Budget".