was the original rishi sunak thinking information is heading in one direction, down, interest rates following much bigger than relatively modest tax cuts, single rate. —— inflation. the problem with that is they had seemed in downing street, we would start to be seeing the beginnings of those interest rate cuts in may. that is clearly not going to happen because of persistent inflation in the united states. it is having a knock—on effect on us. we may not see interest rates go down until september, which lends the argument, the credence, to the potential laura scenario of getting on with it. the other thing is in tory h0, the feeling is to be things can't get worse, but then they did and then they did again and again, and whether it is fully am a rag