Rachel Reeves’s budget contains many measures to make any social democrat cheer. Scrapping the two‑child benefit cap, putting up gambling taxes, freezing rail fares and implementing a mansion tax are not just sensible moves – they are long overdue. As is a “managed transition” for the North Sea that supports workers while pivoting to clean energy, without abruptly ditching oil and gas. The country will be a better, fairer place for these measures. They should also assuage backbench anger over self-inflicted damage by the chancellor’s proposed welfare cuts and secure Ms Reeves’s position – for now.

The dilemma at the heart of Ms Reeves’s fiscal strategy is that while individual policies may be progressive, the economic framework they sit inside........

© The Guardian