After a bad time of it, what with rumours of plots and a seemingly rudderless approach to state finances, bar the preservation of the wealthy, by this government's standards the budget Rachel Reeves delivered on Wednesday was a good one. Obviously not for those of us who want to see huge inroads made into wealth, or the crisis in underfunded public services and state institutions addressed with the seriousness their decrepit conditions warrant. But a good budget for warding off a leadership challenge. A mix of mild but welcome social democratic measures, above all the well-received abolition of the two-child benefit cap, helps ensure that Reeves and Keir Starmer can have a relaxing Christmas knowing their Waterloo has definitively been postponed until after next May's local elections.
As for the rest of the budget, I'm content to let Owen Jones and James Meadway do the heavy lifting on what the rest of it means.
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