Britain’s Conservatives do not understand how much things have changed
The markets are a little calmer. The mess remains
“Iget it,” said Liz Truss, the prime minister, in an address to the Conservative Party conference in Birmingham on October 5th, “and I have listened.” She doesn’t, and she hasn’t. On September 23rd Britain’s government spooked markets because it decided to embark on a borrowing spree to pay for big tax cuts. That caused a jump in yields on British government bonds and prompted the Bank of England to intervene in markets. At this week’s conference the Tories offered a small change of policy, a masterclass in internecine warfare and little sign that they understand how much things have changed.
This article appeared in the Leaders section of the print edition under the headline “Truss deficit”
Leaders October 8th 2022
From the October 8th 2022 edition
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