Tory failings
This government claims to be acting wisely in its effort to combat inflation with austerity. But Bank of England Governor Andrew Bailey’s candour on the effect of Tory economic policies can leave the country in no doubt that Tory profligacy in general has got us into this mess.
It’s not just the story of markets being shocked by the mini-budget. Disbelief was as important as shock because few market movers and shakers nowadays believe in the simple philosophy of cutting taxes to stimulate growth.
Mr Bailey tells us that Brexit has reduced our productivity massively. it has also increased prices of food imports and cut access to invaluable workers.
So the respectable government of Brexit-supporting premier Rishi Sunak can't simply pass all blame for our demise onto the usual Liz Truss associates, mini-budget and all.
In the months ahead people will want to investigate why, on the Tory Party’s watch, our country has done so badly compared to others in G7 in terms of GDP, productivity and recovering from Covid.
There was a fatal arrogance duringthesepost-brownyears and a cavalier attitude to truth, to managing costs, to wastage of money on railway and nuclear projects and to making the rich pay their share. A smiling,clean-shavenpremier won't make us forget that.
ANDREW VASS Edinburgh