Government doubles down over economic plan while Truss and Kwarteng go into hiding
Now you see them: but after their disastrous ‘fiscal event’, politics-watchers are now being forced to play a new game. You might call it ‘Where’s Lizzie?’, or ‘Where’s Kwasi?’
What a stunning headline to write.
The Tory government is sticking by its tax-cuts-for-the-rich, make-the-poor-pay plan, even after the Bank of England had to step in with a plan to buy bonds in order to save the economy from collapsing altogether, after Kwasi Kwarteng’s worst-budget-ever last Friday (September 23).
Government departments are already being asked to find spending cuts, though – it’s looking bad for your NHS (which, by the way, is looking like an extremely enticing purchase for US investors now the Pound has plummeted to parity-or-below with the Dollar).
Meanwhile Liz Truss hasn’t been seen for nearly a week; her only communication being to congratulate a fascist on an election victory in Italy.
And Kwasi Kwarteng has similarly dropped off the map; apart from an excruciating non-response when asked how he’d solve the problems he created last Friday, he appears to be cowering in his office, waiting for the P45 to slide under the door.
Conservative MPs – along with the rest of us – have picked up on the fact that Rishi Sunak, the former Chancellor and Liz Truss’s rival in the leadership contest on which the Tories decided to waste the summer rather than do any actual work, predicted this chaos.
He said, “Borrowing your way out of inflation isn’t a plan – it’s a fairy tale.”
Liz Truss can't say she wasn't warned that her plan was a fairy tale.
Rishi Sunak(former Chancellor) – "We have to be honest. Borrowing your way out of inflation isn't a plan – it's a fairy tale." pic.twitter.com/8AerErsXaY
— Haggis_UK 🇬🇧 🇪🇺 (@Haggis_UK) September 26, 2022
It is against this backdrop that Kwarteng will have to give a speech to the Conservative Party Conference on Monday.
Well, his tenure as Chancellor looks like becoming one of the shortest in history, so he might as well make the shortest-ever speech.
“I resign” comprises only two words.
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