After two budgets dominated by emergency pandemic measures, Chancellor Rishi Sunak finally had an opportunity to present a budget geared around delivering the Government’s ambitious long-term priorities, including the signature pledge of spreading economic opportunities around the country under the guise of levelling up. Ironically for someone who bills themselves as a small-state, free-market conservative, Sunak’s budget saw government spending reach its highest level since the 1970s and the tax burden its highest level since the 1950s, with business saddled with much of the bill. While the budget has landed well politically, look beneath the surface and there are some concerning economic projections, with living standards set to remain stagnant for the foreseeable future.
Please see below for our Public Affairs team's summary and analysis of the budget, including a look at the dynamics of the relationship between Rishi Sunak and Boris Johnson written by Edelman’s Executive Director and Senior Counsel for Strategic Communications, Will Walden. Please do not hesitate to get in touch if you would like further information or to discuss how Edelman can help support your engagement with the Government on these or any other issues.