budget

The Long View on ... the 2020 Budget

O Lucky Man !

Cardinal Mazarin (not Napoleon) valued lucky generals over skilful ones. Rishi Sunak appears to be a very lucky Chancellor indeed*.

a) He's jumped a generation to get into No 11 - without having to make any enemies to get there

b) He's arrived at the first moment in 15-plus years when, as a Chancellor, he can really open the spending taps at “£30 billion”

c) Covid19's impact on the economy is a get-out-of-jail free card from the money markets and commentators1 for spending without worrying about the consequences for now