Global markets might be turbulent, but the UK is better placed to deal with nasty surprises than almost anyone. This was the argument made by George Osborne as he delivered his 2016 Budget. The Chancellor admitted that growth forecasts for the UK economy have been downgraded, and that he has missed his debt target for this year: debt has not fallen as a proportion of GDP. However, these shortcomings were framed in an international context. Osborne announced that, provided it stays in the European Union, the UK will grow faster than any comparable economy in the coming years.
The Chancellor's luck will run out before the next general election