Last week I wrote…
I wonder how today’s financial announcements will go? Probably reasonably well but, and this is not beyond the realms of possibility that, it too could start to unravel very quickly, especially when it becomes apparent that the numbers just don’t add up then who knows what will happen? It is a good job that Liz Truss is such a smooth, empathetic, and effective communicator in public…oh no ……….
Less than one week later the Bank of England has had to buy £65 billion government bonds to prevent the private pension industry imploding and then goodness only knows what might have happened. Yet the government and especially Liz Truss is insisting nothing to see here. This morning she did a round of radio interviews with BBC local radio, I’m assuming the thinking was she would get an easy ride, well that didn’t do well. I think it would be unfair to trainwrecks to describe these interviews as one.
This afternoon the Chancellor Kwasi Kwarteng has deemed to make a statement again claiming nothing to see here now please move on yet how can we when people are worried about Pensions, mortgage rate rises and whether the economy will still be functioning in a weeks time (this is perhaps a bit overblown but…). Wonder what the Conservative Party Conference will bring this weekend?
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