Conservative messaging implies an implicit belief that there are no major state functions ripe for reform in any fiscal repair.
It will probe whether or or not Sunak can prepare the country for that future – and perhaps succeed Johnson himself, “one fine day”.
Perhaps the simplest way of putting it is: it’s all about economic credibility, stupid. Because come 2024, it certainly will be.
But Dodds also says that she “would be concerned at additional taxes on businesses right now, clamping down on confidence in our recovery.”
The “Red Wall” communities in my area overwhelmingly backed Johnson in the last election, and it’s essential that the faith they put in him is returned.
WPI Economics, which has been crunching numbers for the first, has also taken an interest in the second.
A dedicated body could focus on scrutinising the economy and effectiveness of future plans. Australia and New Zealand already have similar models.
Ae consultation on the issue is taking evidence now – and terms of reference for a review will be published in the Budget.
The Chancellor announces that VAT for the hospitality industry will be cut from 20 to five per cent, along with other radical measures.
It’s a good thing for former senior Ministers to keep thinking, going and contributing, and we wouldn’t be surprised to see a comeback to government.
The implications of the crisis are such that Johnson and Sunak need not so much to think outside the box as to trample it to tatters altogether.
The fact that Darlington station was explicitly addressed in his statement is a great sign of how swiftly the Chancellor has mastered the detail of his brief.
Also: Gove warns the Electoral Commission not to ‘waste time’ on SNP demands; Scottish Nationalists showing the strain as problems mount; and more.
It may be necessary, given the Coronavirus, and could even work. But Britain has a long, long record of state spending failing to turbo-charge growth.
Preventing as much long-term damage to the economy as possible now should be the Chancellor’s priority.