Reeves’s spring statement? The economy is great, don’t worry about the Middle East
📖 Full Retelling
<p>With no spending or fiscal commitments to offer, the chancellor kept it short, sweet and just a little tin-eared</p><p>When your luck is out, your luck is out. Time to accept what the fates have to throw at you. It was always going to be a bit of a stretch for Rachel Reeves to maintain she had a brilliant plan and the economy had never been in better health when the figures show a fall in growth and a rise in unemployment. Unless you happen to think those things aren’t so ba
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Reeves’s spring statement? The economy is great, don’t worry about the Middle East John Crace With no spending or fiscal commitments to offer, the chancellor kept it short, sweet and just a little tin-eared W hen your luck is out, your luck is out. Time to accept what the fates have to throw at you. It was always going to be a bit of a stretch for Rachel Reeves to maintain she had a brilliant plan and the economy had never been in better health when the figures show a fall in growth and a rise in unemployment. Unless you happen to think those things aren’t so bad after all. To do so three days after the beginning of Donald Trump’s Awfully Big Iranian Adventure when oil and gas prices are rising , the bond markets are in turmoil and stock markets around the world are falling, begins to look a bit previous. Almost tin-eared. But this was the chancellor’s moment at the dispatch box for the spring statement and she was determined to have her say. And she could pretty much say what she wanted as, for the first time since George Osborne was in charge of the economy, the spring statement would be just that. A statement. There would be no spending or fiscal commitments. Where George had needed a second budgetary event in March to correct the damage he had done six months previously, Reeves has worked out that any U-turns and corrections are best left to later in the year. So for this statement, there had been none of the usual leaks from Treasury staff about expected tax rises. Not because the Treasury has tightened up the security around its comms team, but because there was genuinely nothing to leak. For special advisers this is the ultimate nightmare. They live to wield power. Shortly after 12.35pm, Rachel rose to her feet. “We have the right economic plan for this country,” she began. Not a plan that was more right than the plan of any other party’s plan. But one specially tailored for us. And frankly more than we deserved. Then, bizarrely, she doubled down with a refer...
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