Digesting last week's mini-Budget was an exercise in optimism over experience – a massive fiscal event with the lofty ambition of creating a spike in economic growth after decades of floundering productivity.

It is difficult to disagree with such goals – who doesn't want to see the nation flourishing, with prosperity and growth and cash flooding into the economy? But it is hard to believe a bit of a tax cut and some planning reforms will turn around the fortunes of the nation where decades of economic policy have floundered. And the international currency markets seem to doubt it too.