To be fair and balanced in relation to this weeks events I present the Conservative Party counter arguments; - The market collapse isn’t related to the mini budget. - It’s the Bank of Englands fault. - It’s because markets are terrified of Kier Starmer. - It’s none of the IMF’s business and they should butt out. Well I’m convinced.
They seem to be moving from the tried and tested strategy of blaming the last Labour Government/Leadership to blaming the next Labour Government. This is an actual article from a Conservative member of the House of Lords in Conservative Home in which he specifically states the collapse is because of Kier Starmer. https://conservativehome.com/2022/0...hing-because-of-a-trifling-batch-of-tax-cuts/ ‘In other words (and I am aware of how much this runs against the current narrative) what we have seen since Friday is partly a market adjustment to the increased probability that Sir Keir Starmer will win in 2024 or 2025 – leading to higher taxes, higher spending, and a weaker economy’
So the central bank of the UK has had to step in to protect the country from the actions of the government. This is going well.
The world beating Brexit deal Frost negotiated which he repudiated before the ink was dry on the paper lends a large degree of support to your assessment.
This is worth a listen. Truss thinking she was going to get an easy ride on local radio, being asked questions she didn’t have a coherent response to. To use a James O’Brien word it was catrusstrophic.
Who would ever have thought that the bloke off of the Halifax adverts would cause so much financial turmoil for the economy and Bank of England.
