PM has seriously raised the bar by promising the end of austerity, but is austerity really over? On current plans the answer is definitely no. Total government spend is set to remain broadly flat (compared to rising by just under 3% from the 50s to 2010) 
If austerity is about cuts to public services (DELs), they have borne brunt of cuts to total spending since 2010, and are on course to stay flat while other government spending (e.g on debt interest) is set to rise. Maybe you think that counts as ending austerity but...
This is not ending austerity because the overall departmental spending totals hide ongoing planned cuts to day to day spending (RDEL) that pays for nurses/teachers etc under a huge splurge in capital spending (roads/houses). So public service cuts are still pencilled in
So austerity is definitely not over. And that's before we mention the £14bn of benefit cuts being rolled out right now AND the fact that once we take into account giving health real spending increases + protecting schools/DFID then other departments would need to make big cuts
Obviously govt can raise spending plans from those pencilled in for the next spending review (as they have said they will for health) but the Chancellor will almost certainly duck that question in the forthcoming budget - so ongoing austerity will be baked into the figures
