Chancellor's U-turns reassure but uncertainty remains

'Proof of the fiscal pudding'

Few will have seen before the unedifying back and forth in Westminster over the past few weeks.

But some form of stability appears to have been engineered through the new Chancellor of the Exchequer Jeremy Hunt. We were relatively reassured by the latest announcements from Number 11. For the first time in a while the government is not trying to say experts, and, more importantly the government's creditors are wrong. Jeremy Hunt repeatedly said they will take serious measures to reduce volatility in the cost of UK debt, which over the past weeks, has been caused almost entirely by government policy. The indefinite suspension of the 1% cut in basic rate income tax went further than e...