Labour strategists will be focused on what Trump’s victory means for Britain and the world, but the government will soon face big challenges at the local level, says James Nation

Following on from the US election result, takes abound on what Trump 2.0 means for the world and for the UK.

On the economy, there will be active discussions between the Chancellor and her advisers on the implications of a new OBR forecast in the Spring. Another forecast this financial year is unavoidable, in line with the OBR’s legal mandate. If the OBR finds that the threat of tariffs on the UK and the global economy forces them to revise down their growth forecast, then this will cause a big headache. Before the US election, gilt yield movements were enough to wipe out the Chancellor’s headroom. But if the OBR forecast worsens then, while desperate to call it by another name, she will have to do a full fiscal........

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