In choppy global seas, going for growth is going to require some tricky navigation - and it will make big domestic political waves too

Good morning. Rachel Reeves delivered her big speech on growth. It contained a number of measures: some good (the Oxford/Cambridge arc tops that list), some bad (the third runway at Heathrow) and some added to give the list of growth initiatives the appearance of a more even regional distribution (the regeneration of Old Trafford).