An end to austerity? Little hope, but more cuts could upend Tory election prospects

Tory delegates breathed a sigh of relief at Theresa May's conference speech, but the chancellor has a rather different attitude to the country's purse strings

Tory cheers during Theresa May's conference speech when she declared the end of austerity were an audible cry for freedom. The party faithful who attended last week's annual bash in Birmingham wanted to break the chains of spending cuts that could deny them victory whenever the next general election comes along.

The pain inflicted on much of the population since 2010 has energised voters, prompting many of them to join the Labour party, which staged a dramatic resurgence in 2017 and denied the Tories an outright victory. Another election, especially against a backdrop of even more severe cuts, could spell the end of even that slim majority.

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