Boris Johnson wants tax cuts – but can he deliver them in time?

PM must act quickly as economy and household finances worsen, but Treasury is not sympathetic

Petrol heading for 2 a litre. A 100 bill to fill the average family car with fuel. A warning from the west's leading thinktank that only Russia of the world's 20 leading economies will have weaker growth than the UK next year.

Boris Johnson might have hoped for easier weeks to begin his political fightback. A pickup in the economy is vital if the prime minister is to cling on to his job after 148 of his MPs said they lacked confidence in him. Things are not going to get any easier for some time to come.