Rishi Sunak is having a relatively good crisis. The Chancellor and his team certainly deserve plenty of credit for the way the Treasury has shielded the large majority of businesses and jobs during an unprecedented slump in economic activity. But this task has been made easier by the broad consensus on the appropriate policies and by the seemingly unlimited amounts of public money that the Government has been willing to spend. Now, the context is changing.
In particular, the focus of economic policy is shifting towards supporting the recovery as the lockdown is lifted. This is likely to open up tensions between those who think the best way to revive the economy is for the Government to spend and borrow even more – which seems to be the political instinct of some at No.10 – and the Treasury’s traditional caution.
We appear to be getting a taste of this already…
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Utopia, you are standing in it! 
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