Yesterday, as Liz Truss announced her resignation, she propelled herself into the history books as Britain’s shortest-serving prime minister. This was a record previously held by one George Canning, who died of pneumonia in 1827. This PM however was infamously outlived by a lettuce. This is what happens when idolatory to a particular political ideology is put ahead of common sense, experience, and economic intelligence at a time of global instability.
Any hope that the psychodrama would soon end, however, was dashed as we heard that Boris Johnson was cutting short his holiday to throw his hat into the leadership ring, apparently ignoring that small matter of a pending Parliamentary Privileges Committee investigation. What began as a probable kite-flying mission by his supporters has turned deadly serious. If Johnson does gain over 100 MP votes to reach the membership ballot (which he would probably win), shortly after returning to Downing Street he could then be found guilty of misleading Parliament. And then what — move on to prime minister number four for 2022? Even as most of us wake in shock at the bizarre notion of a Johnson return suddenly looking serious, with Boris supporters already rivalling Sunak’s, nothing should surprise us. Who needs costly BBC dramas when you can switch on and watch the endless shenanigans of the Tory party?
Conservative MPs and ministers are calling for unity. Is it even possible? I’m not convinced. We can only hope the grown-ups finally come to the fore. This is a party that fractured long before the EU referendum. Since that hugely divisive vote they have further split into bitter factions, who spend more time slinging insults at each other than the opposition. There are Brexiteers, former Remainers, One Nation Tories, the Eurosceptic ERG, the NRG, and the hardliners who will only accept Britain as Singapore on Sea. There are those who regard the Cameron/Osborne years as a continuation of Gordon Brown economics and dismiss compassionate Conservatism. Rishi Sunak, a Brexiteer, is regarded by the radical Right — of which Truss was a champion — as a bean-counting member of the low-growth technocrat north London coalition. Then there are the core Johnson supporters, who are libertarian and animal loving, but also adore bashing the “wokerati”, the BBC, and judges who ever questioned the legality of their methods. These days they are largely aligned in their dislike of Sunak for his role in defenestrating their hero, as we are seeing again today.
Less and less do you see clearly what binds them as MPs, apart from not liking strikes or nationalising things. They’ve even lost credibility for safeguarding our finances. Somewhere in the battle smoke, I hope a few Tories with common sense remain. Ones who are pro-business, ready to tell us truths about the NHS, and social care, and its costs; think imaginatively about education, focus on helping people on out of work benefits back into the workplace and push for a levelling up that doesn’t bash London. And yes, work hard to raise productivity, with the understanding that Brexit can also mean aligning with our closest trading bloc. These are Tories I can relate to.
I cannot predict who will win between Boris, Penny Mordaunt or Rishi Sunak but what lies ahead is truly daunting. I like the cut of Mordaunt’s jib at the despatch box, but can she command true influence if the far more experienced Jeremy Hunt is Chancellor? And if it’s Sunak, on Halloween the new PM will have to own a budget he didn’t write (surely it needs delaying?) and an economic future that will only let him tamper at the edges of pain: a prolonged recession, a likely housing crash, inflation, and an energy crisis. But he has the relevant experience for our times, unlike Mordaunt.
As a bare minimum, whoever wins must ensure party discipline, and prioritise measured decision-making. This is where I fear the return of one Boris Johnson, as he was removed for losing the trust of his colleagues. No 10 operated in chaos. If we are a laughing stock now, where will we be if he takes up residence behind that black door again?
For those who are calling for an urgent general election, six weeks of Parliament suspended would be disastrous for our fragile economy. Yet Johnson’s possible return will only highlight these calls. Labour will soon have their day. Whatever lies ahead, this weekend we can at least quietly celebrate that a lettuce triumphed over an experiment that nearly crashed our economy.
These political frights are chilling for the economy
Elsewhere, in the real world, many homeowners are regarding soaring interest rates and the coming house-price slump with alarm. Property prices in nine other rich economies are falling and a correction is likely here too. Inflation and recession stalk the world. The Economist has warned the downtown will “leave a cohort of people with wrecked finances and start a political storm”. Well the storm has started. But I hope Johnson’s supporters read this, especially the billionaires. I don’t know what orbit they are in where a PM removed four months ago can return, no doubt with a fifth chancellor (as many won’t suffer Remainer Hunt) and not cause more economic chaos. Last week I said we should forget Halloween, as every night with the Tories would be fright night for the next few weeks. I didn’t imagine this.
My pick for a lively debate about Boris… his biggest ally
Next week, as we see yet another battle for the keys to Number 10, I am taking over presenting Piers Morgan Uncensored on Talk Tv (8pm Monday, Tuesday, and Thursday), while he takes a half term holiday. It’s going to be a week of high political intrigue and when they asked who I would like to co-present with, I suggested Nadine Dorries, Boris Johnson’s most vocal and ardent supporter. We disagree frequently. And get on famously. We first met a decade ago on Twitter and there ensued a ferocious and brief battle. I lost. Knowing Nadine, she will be operating in the thick of the maelstrom next week. We will battle it out, live on air, as I cannot countenance the return of Pfeffel. And then, slip off together for a quiet glass of Chardonnay. Or six for me if Boris gets through. Nadine, you can do the buying!
