Rishi’s tightrope walk on growth and taxes

THE good news? Britain’s world-beating vaccination drive has hit another remarkable milestone with 20 million people jabbed.

The bad? A super-infectious new Covid variant is on these shores (though scientists are confident our doses offer protection).

Truly, the lord giveth, and the lord taketh away. That biblical phrase might aptly describe the Chancellor’s thinking about Wednesday’s Budget.

For Rishi Sunak has the unenviable task of setting out his plans for the UK’s economic reawakening after the worst health crisis in a century.

He must tame the horrendous deficit and debt incurred, while stimulating spending, galvanising growth and creating jobs.

Typically, the Mail has no time for Big State largesse. But it is fair to continue supporting struggling families and businesses until restrictions lift.

We urge Mr Sunak, too, not to deploy the thumbscrew of punitive tax rises at least until Britain is back on its feet.

Yes, the bill must be paid. But by deferring revenue clawback until at least autumn, he would avoid stunting the ‘coiled spring’ of recovery. After all, a thriving private sector is the only way back to prosperity.

Countless firms are teetering on the brink of oblivion. If he can pull them back from the edge, he’ll boost Treasury coffers in the long run. For a Chancellor forced to learn fast on the job, Mr Sunak has had, as people used to say, a pretty ‘good war’.

But his toughest battles lie ahead – leaving the nation’s finances shipshape and protecting the Tories’ reputation for economic competence.