DAVY VIEW

The news that the Office for Budget Responsibility (OBR) will publish full economic and public finance forecasts in October shows Chancellor of the Exchequer Kwasi Kwarteng bowing to pressure to restore some sense of credibility. In time, it should become clear that ambitious plans to freeze benefits or departmental spending won’t have political support even among Conservative MPs, restoring the focus on reversing the tax cuts in the ‘mini-budget’.