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Why Rishi Sunak’s budget has economic and political logic on its side

The Chancellor struck the right balance between short-term support and sustainability. But you can never entirely discount a Budget unravelling

By Tim Pitt  

Photo: Paul Marriott / Alamy Stock Photo

The Chancellor giveth, and the Chancellor taketh away. Today, Rishi Sunak combined significant short-term support as the economy moves out of lockdown with plans to start tackling the unsustainable fiscal position later in the parliament. In doing so, he began to set the political battle lines for when the politics of deficits and debt make a comeback heading towards the next election.

With the run-up to the Budget dominated by headlines about the Chancellor levelling with the British people about how he would approach repairing the Covid-ravaged public finances, it would be easy to lose sight of the fact that this was still…

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