Jeremy Hunt’s first budget day as chancellor was in many ways more about politics than economics.
Historically, the Conservative party’s electoral success has been based on a reputation for economic competence. October 2022’s infamous Liz Truss/Kwasi Kwarteng “fiscal event” seriously damaged this brand and caused considerable short-term economic damage.
The Conservatives have been consistently behind Labour in the polls since. Labour is now more trusted to manage the economy and oversee economic growth.
