“This inept madness cannot go on”

PD
29 Sep 2022
Graphic of Truss and Kwarteng
It's all coming apart

These are not the words of an opposition politician but those of a Conservative MP, Simon Hoare, MP for North Dorset.
Referring back to another day when the Conservative handling of the economy was anything but 'strong and stable' he also commented on Twitter, "In the words of Norman Lamont on Black Wednesday: 'today has been a very difficult day'. These are not circumstances beyond the control of Govt/Treasury . they were authored there.
In the 6 days since Kwasi Kwarteng presented his 'mini budget', this uncosted folly has resulted in a drop in the value of sterling, a drop in the value of 'gilts' (threatening the viability of pension funds) and the withdrawal of 40% of mortgage 'products', with hefty rises in mortgage interest rates being widely predicted.
In her interview round this morning (29th Sept) PM Liz Truss repeatedly appeared to ignore reality and pretend that all was going to plan.
Few were prepared to defend her.
Dan Hodges, a journalist for the Mail on Sunday who might have been expected to offer a crumb of support, wrote on Twitter, "Liz Truss currently sounds like a pre-recorded message telling you she's sorry the Government is out, but please call back later. This is a terrible media round from Liz Truss. Robotic. Totally lacking in empathy. But it's also revealing the fundamental problem. The policy itself is utterly, completely and totally indefensible".

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