What did we learn from the Chancellor’s spring statement? As James reports on Coffee House, Rishi Sunak’s promise of an income tax cut by 2024 offered a strong indicator of how – and when – the Tories plan to fight the next election. Meanwhile, the OBR’s finding that rising inflation will lead to the biggest fall in living standards since records began in 1950 highlights how even with the new immediate cost of living policies – including a 5p cut on fuel duty – the coming months will be painful for many households.
However, aside from cost of living, there was another problem Sunak’s statement highlighted: the Northern Ireland protocol. When the Chancellor unveiled the second of his measures aimed at immediately easing the cost of living, it came with an important caveat.
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