What is certain is Sunak has failed, but maybe the whole of neoliberalism has too

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Published by Anonymous (not verified) on Thu, 24/03/2022 - 6:23pm in

According to Politico (itself, right wing in orientation):

Rishi Sunak is braced for a difficult morning broadcast round after his spring statement endured a very rough landing Wednesday. The chancellor is waking up to a clean sweep of hostile front pages and stinging criticism from economics think tanks, Conservative MPs and the opposition. The alarming testimony of LBC radio phone-in callers in distress about their own fuel poverty crises will likely be ringing in his ears, and it’s only getting worse: Most papers lead with the devastating blow that living standards will see their biggest fall since records began in the 1950s, just in time for the next general election.

As I told Andrew Marr on LBC last night, my feeling was that he blew this budget as badly as he did his first budget in March 2020. He was back at the Dispatch Box within a fortnight then. I predicted he will have to be back this time too as household poverty escalates to levels much higher than the 2% cost the OBR predicts, itself the worst since records began in the 1950s.

I offered a simple explanation. It was that mothers who cannot feed their children get very angry.

The seat I vacated at LBC at 7 pm was then taken by Rishi Sunak. We shook hands and shared a few words during the changeover. I do not think he anticipated the anger that came his way in the programme that followed. He certainly heard some of what I had to say: he was standing outside by a monitor as I said it.

I am now working on a longer explanation of what is happening. That will be out later. I have other broadcasting commitments this morning. But what is certain is that for Sunak everything has changed. And he might just be the weather vain. Maybe everything has.

What is certain is Sunak has failed.

But maybe the whole of neoliberalism has too, and globalisation with it.