What does the autumn statement have in store? A poison pill for Labour | Larry Elliott

Spending cuts and tax rises will deepen the recession so the pain will be deferred until 2025 and a likely Starmer government

• Jeremy Hunt: everyone will be paying more tax after autumn statement

Liz Truss is about to be removed, like Leon Trotsky, from the history books. Just as Joseph Stalin removed mention of his rival from accounts of the Russian Revolution, so Thursday's autumn statement will do its best to airbrush out evidence of Truss's brief stint as prime minister.

It will fall to Jeremy Hunt to deliver the latest in a series of mini-budgets, but there is no question this is a joint operation between the neighbours at 10 and 11 Downing Street. This is the sort of autumn statement that Rishi Sunak would have made had he not been thwarted by Boris Johnson during his time as chancellor, or beaten by Truss in the summer leadership race.