Beware Hunt’s hype. There’s more poverty ahead and his budget did nothing to change that | Aditya Chakrabortty

The statement will be remembered for the childcare pledge, but there was nothing to meet the scale of Britain's economic malaise

I have spent more than 25 years covering budgets, because someone had to, and have learned one golden rule: for all the huff and puff, the ready reckoners and those blessed fan charts, most of what's said evaporates from the public consciousness by the weekend. Out of all Jeremy Hunt's promises today, only one will linger in the electorate's memory: providing working parents with 30 hours of free childcare during term time for their babies and toddlers.

Not that you'd know. The chancellor gave it only brief airtime and got far more excited at the idea of building 12 potential Canary Wharfs". But that's the only policy guaranteed to light up WhatsApp groups this evening and perhaps to be remembered by many voters at the ballot box. It is also, according to the Office for Budget Responsibility, the measure that will do most to boost the economy - more than the much costlier giveaways to business. The pledge is shot through with more holes than Clint Eastwood's cowboy hat, as we shall see, but it also contains important clues for how politics will play out between now and the next election.

Aditya Chakrabortty is a Guardian columnist and senior economics commentator. He was last week named columnist of the year (broadsheet) at the Press Awards