Business
Faisal Islam: Chancellor's attempts to boost vibes may limit tax rises
The new leadership is trying to maintain both confidence and the promotion of economic animal spirits.
BBC Business•
It was an absolute and total coincidence that he chose to make it in the Coventry Manufacturing and Technology Centre (MTC), just a few minutes' drive from the city's totemic HQ of Jaguar Land Rover (JLR).
In the event, no one was pulling punches. The 4,000 office-based job losses at JLR were confirmed as John Healey answered questions a few miles away.
Healey chose to lean into it as an example of the global turbulence against which the UK needs more resilience.
This lock guarantees the state pension rising each year in line with either inflation, wage increases or 2.5% - whichever is the highest - but some have argued it is unaffordable.