Budget politics

The Budget will, inevitably, be a mix of technocratic measures and political positioning. The former will see less action to counter ‘fiscal drag’ (where inflation bumps more people into higher bands without the Government having to do anything) and the latter will testify to Sajid Javid’s ability to push Hammond on housing. If he can, it will not only set a precedent for other Ministers, but also increase Javid’s own political stock considerably.

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