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The Guardian - UK
The Guardian - UK
Business
Larry Elliott

Governments facing wipeout will always cut taxes but there are better uses for UK’s £20bn windfall

The chancellor, Jeremy Hunt
Jeremy Hunt’s spring budget is on 6 March. Photograph: Stefan Rousseau/PA

UK politics is stuck in a holding pattern. Ever since Liz Truss’s seven-week stint as prime minister, opinion polls have been consistent: the Conservatives are on course for a thumping defeat. Historical precedent suggests the race should get tighter as the election approaches but there is currently no evidence of that happening. In fact, Labour’s lead seems to be getting bigger.

What is worrying for the government is that its political plight seems to be getting worse even though the economic news has been getting modestly better.

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