The chancellor told the Commons that “this government has the right economic plan for our country”, but the rise in the world oil price caused by the Iran war had already made the forecast on which the plan was based out of date.
Rachel Reeves was undeterred, however, and claimed credit for some of the Office for Budget Responsibility’s out-of-date numbers being better than expected – even if the one that matters, growth this year, will be lower than expected.
And, as I wrote, Keir Starmer, sitting beside the chancellor, looked more relaxed and happier than he has done for weeks, knowing that an international crisis is good news for his chances of survival.
