Budget 2024: Will Reeves Fix the Broken Economic Model?

I would like to think yes but I am almost sure the answer is no. But what she looks as if she is going to do is to shore up the current model and make it function not as a drag on growth, which has been the case since the 2008 crash, but as an engine of growth.  How far she will succeed with that depends on what she does.

There are hints that there is to be revision of the chaotic book keeping at present in force for the public finances, which may free up funds to support the collapsing public services, now operating just above the level of a failed state. It is certain that paying for day to day expenditure by borrowing has to stop and to stop it some very painful increases in taxation are in store.

I do think that we will be in a better economic place by the end of Wednesday next, but it will be innovative rather than transforming. To repeat previous posts, we cannot resolve our problems long term until the government, through the Treasury, not the Bank of England, regains control of interest rates, terms of credit, savings rates and the money supply.

And that will not happen yet.