Rishi Sunak joked in a Sunday newspaper interview that he should withdraw the Prime Minister’s credit card as he prepares for his first spending review on Wednesday.
While the Chancellor may have shed light on his relationship with Boris Johnson, there is more than an element of truth in the comments as he attempts to chart the country’s course out of the pandemic.
The political newsletter cut through the noise
The joke betrays the reality of the task Mr. Sunak faces, not only in trying to fix government finances, but also by curbing his more debauched instincts.
A troubling economic situation
Throughout Sunday, the Chancellor tried to avoid releasing any information about his spending plans, but it was clear the UK was facing a tough economic situation and the country’s accounts will need to be put on more sustainable bases. .
Government borrowing has exploded since the start of the pandemic, reaching record levels in peacetime, and fears are growing about the cost to the public purse of servicing this long-term debt.
Mr Sunak insisted there will be no return to austerity when he tackles the shipping box this week, but in the same breath, he declined to reject serious suggestions for a freeze. wages in the public sector, while it was also unable to meet the commitments of the government manifesto. on taxes.
But the Chancellors’ biggest battle may not be with the public in the weeks and years to come, many of whom will likely come to terms with the need to tighten their belts in the wake of the Covid crisis.
Instead, perhaps the most delicate negotiation he faces, at least politically speaking, is with the Prime Minister himself, who has repeatedly shown he is opposed to the shutdown. from the spending tap.
Mr Johnson has stake his political future on carrying out his leveling program in the North and Midlands, while pledging comprehensive plans that even include a plan to link Scotland to Northern Ireland.
If Mr Sunak is to convince the British people that the economic health of the country depends on a more frugal life, he must first win this argument with his neighbor.
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