Good morning. When chancellor Jeremy Hunt gave his autumn statement last year, he was attempting life support on a British economy spiralling into crisis because of the disaster of Liz Truss and Kwasi Kwarteng’s policy agenda. When he delivers his budget in the House of Commons today, he will present a more optimistic picture – with caveats: that he will push for growth after stabilising the public finances, but has to be restrained if he is to finish the job.
Hunt has enjoyed much lower than expected energy prices, and greater confidence in the UK’s ability to pay its debts that has reduced the cost of financing them. Last night, the Guardian exclusively reported that among the big beneficiaries of that situation are parents of one- and two-year-olds, who will get an extra 30 hours of free childcare a week.
