A 'large and untargeted fiscal package' was the scathing verdict of the International Monetary Fund ( IMF ) on Kwasi Kwarteng's mini-Budget last week: an extraordinary intervention from a body normally charged with rescuing basket-case economies in Latin America. Ministers were furious. And sources tell me there is a strong suspicion among senior government figures that allies of the ousted Treasury mandarin Sir Tom Scholar might have had something to do with it. One of Kwarteng's first acts as Chancellor was to sack Scholar, the Permanent Secretary at the Treasury since 2016. An arch-Remainer who previously served as David Cameron 's 'Adviser for Europe', Scholar epitomised the stuffy economic orthodoxy that Kwarteng and Liz Truss are seeking to overthrow. International Monetary Fund Managing Director Kristalina Georgieva (pictured in March). A 'large and untargeted fiscal package' was the scathing verdict of the International Monetary Fund (IMF) on Kwasi … [Read more...] about ANDREW PIERCE: Was IMF attack over sacking of Sir Humphrey?
Clement attlee jeremy corbyn
When things go wrong (and they always do go wrong), the people who are of most use are those who calmly set about solving the problem, fixing what is broken and clearing up the mess. Chancellor Kwasi Kwarteng, in his interview today with The Mail on Sunday, is cool and thoughtful about the storm which engulfed him. He is also commendably frank about the crisis which broke out after his mini-Budget, not trying to pretend that nothing went wrong. Chancellor Kwasi Kwarteng, in his interview today with The Mail on Sunday, is cool and thoughtful about the storm which engulfed him And he has some sensible things to say about the economic problems faced by the country and the political problems faced by the Government in the aftermath of those events. It is clear, as the tumult and the shouting die, that this was not, as some tried to present it, a repeat of the ERM crisis that destroyed the Major Government’s reputation for economic competence nearly 30 years ago. With … [Read more...] about MAIL ON SUNDAY COMMENT: An admirable show of restraint in the face of Labour’s bigotry
Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Before the chancellor’s speech, the police put the Tory party conference on lockdown. There’d been a “potential security incident”, apparently. Perhaps they’d been tipped off that a man was about to go on the main stage and not merely s*** himself but then seek to scoop it all up and cram it back up his own arse in the hope that no one would notice. But they needn’t have worried because it didn’t happen – well, not the second bit, anyway. Kwasi Kwarteng wandered out into a hell of his own making, and just styled it out as if it wasn’t there. It would be wrong to describe what he’s done as the mother of all U-turns , because it’s so much more than a U-turn, and so much worse. Late on Sunday night, the chancellor sent out extracts from his speech. It included the line “we must stay the course”. The Daily Express … [Read more...] about It’s been a tough day for Kwasi Kwarteng and his planet-sized ego