Say what you want to say about our budget, it didn’t create an EM-style currency crisis. It did not trigger an alarmed intervention from the IMF. It did not result in the central bank having to intervene with an emergency bond-buying program. It has not led to the near collapse of several pension funds. In addition, a dispute about the price of concrete seemed almost comical.
In fact, the budget night edition of prime time almost felt like it winning streak. They even had them winning streak-like observer from KPMG or EY or any of those companies that run the world. his job prime time was to tell everyone how much they had won in the budget.
He was almost embarrassed to share the good news. He actually told one couple that he felt the minister should be the one allowed to break them the good news as he revealed how many thousands they would gain from the household.
On the other side of the studio, even Pearse Doherty, normally a strong performer who can tear apart anything the government offers, seemed slightly subdued in his clash with Paschal Donohoe and still talked about providing security by slashing the energy bills limited ones, especially when we’ve seen how energy caps work in the UK.
The Germans have a word for enjoying other people’s misfortune, but the Irish these days have an even more specific word for enjoying Britain’s misfortune. We call it “The Media”. We couldn’t get enough of the Liz Truss and Kwasi Kwarteng pickles. As the week progressed, we could practically sing along to the pauses in Truss’ awkward local radio interviews.
We haven’t been this familiar with how the bond and forex markets work since our own IMF days. And of course all of this was presented to us as sober, serious economic reporting and analysis, but actually the talking heads and the headlines might as well have been saying, ‘Look what the mad Englishmen have done now. And you thought Boris Johnson was bad?”
The fact that Boring Keir Starmer then bragged about it in interviews bragging about how boring he was and was rewarded with a 33 percent lead in the polls made it even funnier. The only one who laughed louder than our government and us was probably Rishi Sunak.
Of course, we are also pleased that none of this has anything to do with Brexit. Just like the chaos in the ports when the British try to spend their holidays in Provence. It also had nothing to do with Brexit.
It would make you worry about government wisdom through a one-word slogan. “Growth” is currently Liz Truss’ only policy. Which of course makes sense, but it all depends on the details of how you do it. As we’re all rushing to “change” in the next election, perhaps we should press on a few details.
While the UK’s woes are unrelated to Brexit, you would be tempted to tell Liz Truss that the best way to get growth is to do what we did to get growth and the to join the EU.
But no, that has nothing to do with it.
https://www.independent.ie/opinion/comment/so-you-want-growth-liz-just-join-the-eu-42032986.html So you want growth, Liz? Simply join the EU!