History suggests that such measures fail in their political purpose, and often do not achieve their narrow economic intent.
Preventing as much long-term damage to the economy as possible now should be the Chancellor’s priority.
After a decade of forward guidance, credit easing and quantitative easing, it was clear even before the Covid-19 crisis that monetary policy had run out of road.
Local authorities have responsibility for important and complex public services. Yet they have a limited tax base.
Reform must be phased, to allow farmers to adapt, but it will pay dividends.
Neither finance ministers nor central bankers should mislead themselves or the public with the promise implied by talk of when interest rates come down.