Saturday, November 27, 2021

If Sunak were a visionary, the High Streets would do much better

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F.unny things, budgets. After having covered many of the annual set pieces, I am familiar with their rhythm, the increase and decrease of the Chancellor’s volume, their acceleration and deceleration.

The pattern has been the same for decades – regardless of whether a Tory or Labor Chancellor speaks. It gives an overview of the macro and state of the UK economy compared to the rest. Then down to the basics and at the end of a flourishing sign-off.

It’s hard to listen, see what’s important and what’s not, what’s a meaningful change, and what’s of little importance but sounds good. To do this, you have to study the transcript and the associated “Red Book” of the treasury with the fine print.

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