Might Sunak regret his Budget delay?

Given the swift defenestration of his predecessor after her mini-Budget panicked the markets, it is not surprising that Rishi Sunak has delayed the Treasury’s autumn statement until 17 November. No set of fiscal plans will satisfy everyone, but markets and public opinion do seem to be especially sensitive to changes in fiscal policy at present. And there’s this: left-leaning thinktank the Resolution Foundation this morning said delaying the statement for just two weeks will reduce the apparent black hole in the public finances as the cost of government borrowing comes down. The two-week delay could create the illusion of an extra £15 billion in the government’s coffers (or rather £15 billion less borrowing), mitigating the need for spending cuts and tax rises.

But it is inevitable that there will be plenty of bad news for taxpayers and for those whose livelihoods depends on government spending. The Prime Minister has made it clear that he will make fiscal responsibility a priority.