The bottom line from that autumn statement? Prepare for a general election in the spring. Yes, the Tories lag far behind in the polls; and sure, Rishi Sunak’s personal ratings fall almost as short as his trouser legs. But boy, does the prime minister want you to know he’s up for a fight. That’s why his chancellor is giving away tens of billions of pounds in tax cuts. It also explains his haste in pushing those pounds into voters’ pockets. Rather than wait until April to make that 2p cut to national insurance, Jeremy Hunt will ensure it hits pay packets in January. Ever get the feeling you’re being bribed?
There is no magic money tree, Theresa May used to say. But that was three prime ministers ago, and anyway it was a lie – a government steeling itself for an election can always lay its hands on some cash. Best of all is taxpayers’ money, which Hunt gleefully handed out in sweeteners worth £21bn a year. Big corporations got their incentives to invest. About 28 million employees were handed an average of £330. White van man got a few quid, as did pub landlords. Unlike Liz Truss, who chucked money at a fug of thinktank ideas on growth, Sunak is precisely targeting groups of voters.
