UK voters unlikely to share Hunt's budget optimism

But the fiscal rules that he and current Prime Minister Rishi Sunak adopted to calm the bond market are likely to leave them with very little space for a pre-election reversal of a tax burden that is heading for a 70-year high.

Ben Zaranko, an economist with the Institute for Fiscal Studies, a nonpartisan think tank, said Hunt’s 6.5-billion-pound buffer for meeting his target could be eaten up easily by another freeze in fuel duty and a top-up for the health budget. Nonetheless, analysts said Hunt and Sunak were probably intending to relax their grip on the public finances between now and the next election, potentially at the cost of Britain’s recently restored fiscal credibility.

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