So gilts have gone through the roof, which effectively means it costs considerably more now to borrow (when we’re just about to borrow more money than at any time in the last seventy years), which means the government will have to spend more money servicing that debt instead of elsewhere, such as spending on public services.
Coupled with that, the pound is tanking, not just against the dollar, which means anything imported today costs considerably more than it did even last week. That’ll have a knock on effect for consumers in terms of rising prices, so pushing inflation even further and so everyone in real terms will be a lot worse off, even with the tax cuts, which still made most people worse off anyway. The Bank of England will react to try and bring inflation back under control, rising interests rates further which will also then have an impact.
So ultimately, if they are after growth, I can’t see how that can possibly happen unless it’s foreign investment flooding the market, which will take considerable time to flow through. That’s assuming it actually does - given the trade barriers we’ve self inflicted, even with the cheap currency, we’re not a particularly attractive proposition in a lot of sectors.