The revolution deferred. Deferred by economic circumstance, deferred by political inheritance. When he came to power in July, Andy Burnham promised a radical rewiring of British politics and an end to what he sees as 40 years of deadening neoliberal consensus on the economy.

In the Burnham ministry’s first Budget on 28 October, Chancellor John Healey delivered a cautious package and a softly spoken speech. He tried to be optimistic, despite swimming against a strong tide of bad news, announcing a raft of small measures intended to keep the public on side while promising better times ahead.

Subscribe to the New Statesman and save 40% for 1 year!