What does the Budget mean for you?

Hello from London, where we had a long-awaited Budget from the chancellor Jeremy Hunt yesterday. The stakes were high for a languishing Conservative party that is looking to avoid electoral oblivion in this year’s vote. Hunt responded with a £10bn personal tax cut and an increase in the child benefit cap. Our reporters detail what the Budget will mean for your money.

Britain’s public purse remains on shaky ground. While Hunt did announce some worthwhile reforms, the cut to national insurance was a wasteful use of the UK’s tight public finances, argued the FT’s editorial board.

My choices this week

1. Donald Trump sailed to victory in the battle for the Republican presidential nomination on Super Tuesday this week, prompting rival Nikki Haley to withdraw from the race. But a closer look at Trump’s thumping win reveals a potentially important force: the secret non-Trump voter.(If you’re interested in American politics, do sign up for our latest newsletter, US Election Countdown, which is free for Editor’s Digest readers.)
2. Academics at Imperial College London have worked with scientists at Chinese institutions who are linked to Beijing’s defence sector, the FT revealed this week. Amid heightened geopolitical tensions between Beijing and the west, academic collaboration is an increasingly sensitive topic.
3. Norway’s sovereign wealth fund wants to invest in private equity — no insignificant consideration for the world’s biggest de facto index fund. FT Alphaville investigates: Is private equity actually worth it?
4. Temu is embarking on one of the most remarkable retail expansions in history. But puzzling questions lurk beneath the surface. Among them: where are their profits going? Investigative reporter Dan McCrum has a deep dive into the mysterious Chinese ecommerce company. (Free to read)
5. America saw more strike action in the past year than it had in more than two decades, and what their leaders want is probably not what you think. In this weekend’s FT Magazine, Rana Foroohar had a remarkable conversation with the country’s top union bosses.
6. It is easy, and popular, to be pessimistic about the state of the world. But pessimism is often misplaced. It can also be extremely harmful. Jemima Kelly makes the case for making pessimism uncool again. (Free to read)

Thanks for reading,

Patrick

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