What will Rishi Sunak’s Budget look like?

Plenty of questions were already circulating about next month’s Budget, even before Sajid Javid’s dramatic resignation as Chancellor – and Rishi Sunak’s appointment as his replacement – this morning. With this shock change in Number 11, we know even less than we did: what are Sunak’s policy plans? How involved will Number 10 be in the process? And will financial plans already in the works be radically altered in the weeks to come? But the most pressing question of all is: what is Boris Johnson’s Government’s economic vision for the years to come?

The process of building an economic legacy can take many twists and turns. When Margaret Thatcher first came to power, she raised taxes. This part of her tenure is rarely mentioned, especially in sympathetic circles; Thatcherism has become a byword for smaller taxes and smaller government. But that’s not how her premiership kicked off and it’s worth revisiting these formative years.