Britain's economy improving may not keep Sunak in power

London's budget is unlikely to shake off the gloom of a 'vibecession'

- THERESE RAPHAEL

Chancellor of the exchequer Jeremy Hunt had some good news to deliver Wednesday. Inflation, which reached 11.1% in October, is now anticipated to be 2.9% at the end of 2023. The economy will shrink by only 0.2% instead of 1.4%. The UK has swerved a technical recession and public finances are looking tidier.

And yet, as Hunt knows, budgets are also political documents. The purpose of Wednesday's pre-leaked budget announcement was to telegraph stability and governing competence, which it largely achieved. In fact, the longer Prime Minister Rishi Sunak is in power, the more the cult of Boris Johnson feels like a reckless affair and the brief premiership of Liz Truss a bad dream.

But while those improving macroeconomic data points do please bean-counters, what matters most when it comes to the next election will be whether people feel optimistic about their own lives. On this front, the Tories seem to be up against what Kyla Scanlon dubbed a "vibecession"when the economy isn't doing so badly, but people feel glum about their prospects.

The problem Hunt and Sunak have is that the numbers might be saying "we're getting better," but ordinary voters will be feeling something more unprintable. Indeed, half a million workers were out on strike, including teachers and doctors.