We are often told that everything in life is relative, especially the important things – happiness, wealth and the absence thereof. But the development of a new theory of relativity, in public finance terms, may be required before next year's Spending Review.

Those attending The MJ Future Forum event last month were told in stark terms that in the absence of a £10bn annual cut to the burgeoning welfare budget, unprotected departments would be subject to deeper budget cuts of 3.8% each year.