Despite Rishi Sunak's statement, we still don't know what kind of economy he wants | Martin Kettle

The chancellor has been forced to spend for now, but he may revert to the low-tax small-state agenda the Tory faithful love

Rishi Sunak is now the most important person in the Conservative government, Boris Johnson included. This is quite an achievement for someone who has only been chancellor of the exchequer for five months. It reflects, in large part, the lack of competition from one of the least weighty cabinets of modern times. But it also reflects the severe damage that Johnson has done to himself during the Covid-19 pandemic.

Sunak has emerged as hard-headed, clear-spoken and on top of his brief. Thus far, he has proved himself equal to events. The contrast with Johnson on all levels is increasingly stark. Unlike the prime minister, Sunak does not bluster, bully, thump the table or make things up. Talk of Sunak as the next party leader is common, though this also reflects the low level of most of the alternatives.

Related: Summer statement 2020: the chancellor's key points at a glance

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