Tomorrow's Business Today
Budgeting for Thursday
This week’s budget is going to be rather unlike any other.
For one think, the Chancellor and the PM have openly been saying that we are going to hate it. That it will contain many painful measures that one way or another are going to make us all poorer.
That’s them playing their the-adults-are-now-in-charge card, so in some ways it is just a PR damage limitation exercise when it turns out not to be so bad as all that.
But precisely what Jeremy Hunt announces is going to be more surprising, of more interest, than usual.
In recent years budgets have been so taken over by kite-flying and pre-briefings that anyone who cared knew pretty much what the Chancellor was going to say before he said it.
For this budget, plenty have guessed what Hunt might do, but unless I missed it, none of those pieces had the stamp of certainty. Hacks were mostly just making informed guesses.
So we genuinely don’t know what he is going to say. Which means stressed newsrooms are going to have to move very quickly.
Which means (at least) two things for the PR trade. First, don’t be the flak phoning up in the middle of the speech to discuss anything else.
Second, we’ll want thoughtful analysis on what the announcements mean even more than usual.
Not “on-the-one-hand” this-ery. And definitely not wishy-washy “the devil is in the detail” sermons.
Tell us about that detail. Break it down for us….
Press release of the day
Is Elon Musk facing a Gerald Ratner moment, where a careless comment on the financial future of Twitter becomes a self-fulfilling prophecy, asks this from Mercer & Hole.
Edward Ellis says: “Musk’s warning that the platform faces collapse is unlikely to restore advertiser confidence or motivate staff, particularly if laid off a week earlier. It is not the first time an ill-timed comment has seen a business quickly unravel, as jewellery retailer Gerald Ratner will testify.”
Stories that will keep rolling
1) Has inflation peaked or will it keep rising?
2) How bad will food rationing get?
3) Where is Premier Foods seeing most price pressure?
4) Will Sam Bankman-Fried be able to raise money ever again?