“There’s no point in the Chancellor delivering the Budget speech, it’s all been briefed already.” It is a common refrain, said for many years now. I used to hear the complaint being made when I was a Treasury minister, but would be aware that there was still plenty left to be said. Perhaps that is the case now, but I suspect even today’s Treasury ministers are surprised at how much has been announced.
There are, however, good reasons why so much has been pre-briefed. This is going to be a big Budget; first budgets after a change of government tend to be. These occasions are a moment for a new Chancellor to set out a sense of direction, not just for the year ahead but for an entire parliament. It is also, usually, a point of maximum power. A new government usually has the benefit of a political honeymoon as the country wills it to succeed, relieved that its predecessors have been removed. An election is still some years away, meaning that there is little need to chase short-term popularity. Backbenchers are still disciplined.
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