They jumped straight in delivering the "highest tax cuts for 50 years" despite warnings from the former chancellor and many experts. The OBR offered to provide a report for the mini budget analysing the impact but this was refused by the chancellor. The chancellor also sacked the permanent treasury secretary on his first day who brought with him a wealth of experience - something else that was highly criticised before the budget.
The chancellor didn't speak to the key markets or the bank of England about his plans and thereby undermined the key pillars of the economy.
His mini budget then saw the pound crash which led to sales of government bonds, meaning that the prices dropped dramatically and everyone's pensions were at risk. The bank of England then had to step in and offer to buy bonds to calm the markets, but this comes at a cost. It's basically quantitative easing and will result in increased interest rates over time. So now the government has gambled everything, either the economy recovers immediately or we'll start to see those interest rates rise which will send growth backwards and see us into a far greater crisis than before.
There's nothing reassuring about this, and I'm not sure you can argue that it's not "completely clueless". The chancellor and pm haven't even understood the key market drivers and key institutions involved in our economy. Their plan was by any measure radical, and instead of seek expert opinions, they actively ignored them.
As for the anti-conservative sentiment, a lot of the criticism I've seen has come from Tories themselves.[/QUOTE]
Of course it has.
In the days when their MP's elected the Party Leader, (sometimes the sitting PM), the majority of them would never have elected the eccentric Miss Truss.
Or perhaps she would not have entered the lists with the policies she did.
But the Party Members from 'The Shires' must have thought that their dreams had been fulfilled with her Ultra-Right attempt at economics.
The MP's on the other hand, particularly those in Northern Seats only recently gained from Labour, must have been scouring the job vacancy columns.
If The Press is to be believed, (and that is always a doubt), Tory MP's in droves, have been threatening to vote against The Government's Budget bill, when it comes before The House.
As this is only one part of the lunacy, they still might.
It's ironic that the Right-Wing Tories from 'The Shires' might be ones that have made sure that Sir Kier heads the next Government.
