Rishi Sunak gave a polished performance. It helps that he is highly intelligent, thoroughly at ease with economics, and equally at ease in his own skin. His backbenchers want an excuse to feel cheerful and he gave them one, at least in the short term.

Yet there is a basic problem. There are fundamental questions to which he gave no answers. This is not specifically his fault. How could there be simple answers when we are living in a world beset by uncertainty at so many levels?