Julian, good post. The desire of govts to pretend they are in control is strong. Chancellors are particularly prone.

Therefore instead of using such uncertain times to signal changes she holds the line claiming credit for interest rate cuts, GDP aenemic growth forecasts, defence spending, 30 hrs free child care, etc.

I did hear caveats in here speech and fully expect her to take advantage of them later in the year.

Labour desperately wants all the adverse international issues to go away and they will not.

UK govt is faced with grabbing the economy by the scruff of the neck & driving it forward in areas like defence, rearmament, energy, food, manufacturing, health, housing, etc. It claims to but isn't.

It is a depressingly long list but the markets can only provide some solutions. The private sector isn't a miracle worker.

The structural issues are too great for govt to stand back and attempt to balance day to day spending and a smorgasbord of a few other things.

Our deteriorating international situation, terms of trade, ageing pop, low birth rate, climate change all point to urgent transformation. Carrying as if the current economic plan is working is pure nonsense.