Given the economic orthodoxy over the past ten years, the smiles and sunshine approach is hard to swallow. The chancellor proposes deficit spending, and by the end of the parliament expects the national debt to hit £2 trillion: the measures that the longer-serving Tories have grizzled, harrumphed and waved their papers in support of in the Commons since 2010 have vanished. Debt numbers that once seemed sacred are swept away like plaster idols. What, then, was the last decade for? The stagnant wages, the shrunken services, the slashing of the social state? George Osborne’s apparent claim – that austerity paved the way for the new munificence – is in no way credible. The NHS is about to discover that a few extra billion now can’t make up for frayed investment over a decade; new intensive care services, and trained staff to run them, cannot be conjured from thin air.