A consensus very quickly formed that this was, at best, an underwhelming Queen’s Speech, unequal to the tasks of addressing the greatest squeeze on living standards we have seen since the 1920s or the long-term prospects of slow economic growth.
The consensus view is correct, although to be fair, the Queen’s Speech was never going to provide an answer to the current inflationary surge. The best opportunity to do that was in the Spring Statement because the most effective ways of protecting living standards in the short term are to spend money or cut taxes.
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