There is already arguably too little flexibility in the chancellor’s budget plan. Trump’s tariffs chaos makes a rethink inevitableCritics of Rachel Reeves are enjoying another “told you so” moment. It was never realistic, they say, to formulate a budget plan with virtually no leeway to accommodate for unforeseen events.Less than £10bn of headroom on a budget of £1.2tn was asking for trouble. It is clear there are just too many events that could be put on a list of “known unknowns” for a UK chancellor to almost wilfully wish away their potential impact on the economy and the public finances. Continue reading...