Budget betrayal

THAT was the Budget, that was. The months of leaks and 'guidance' from the Treasury and No 10 threatened such extreme measures that it made the actual announcement last week seem a nonevent. However, it did fulfil its party-political purpose: it has kept Sir Keir Starmer and Rachel Reeves in post at least until May. Only then will Labour's probable dire local-election results produce a possible challenge. Labour MPs in general have heaved a collective sigh of relief, secure in the knowledge that this Budget won't cause new fissures in the party. The left will applaud the abolition of the two-child limit on support—particularly as it's paid for by a tax on the rich living in London—and the financial markets have been quietened by an approach more moderate than had been trailed.

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What, however, has it done for the country? The Government says its priority is growth, but, as the independent Institute for Fiscal Studies has said, this Budget doesn't do anything to promote growth. Sir Keir claims to be concerned about the increasing youth unemployment, but Ms Reeves has decided to raise the minimum wage yet again, even though it will cause further redundancies and slash recruitment. That foolishness is combined with the Employment Act that, despite last week's U-turn on 'day one rights', remains a serious attack on enterprise. None of this adds up to a growth agenda.