Ahead of last October’s Budget, ministers allowed months of speculation as to what would be unveiled, and the never-ending drumbeat of doom and gloom talked the economy to a standstill. Largely as a result of the contents and consequences of that Budget, economic growth has since evaporated and now all eyes are on this week’s Spring Statement.

The Treasury is adamant that it isn’t a Budget and officials are keen to downplay the significance of the Chancellor’s speech to the Commons on Wednesday, but economic (and political) conditions mean that it’s taken on........

© City A.M.