The comedy is over. The clowns have backed off. Boris Johnson raced from his Caribbean beach to revive his political potency, but for once it failed him. Those who knew him best recoiled in horror. He decided in his arrogance that this was “not the right time”. The money markets shuddered and this morning recovered. Britain is a parliamentary democracy, not a mobocracy. The grownups are taking back control.
Now that the former chancellor Rishi Sunak will be the new prime minister, a greater question looms on the horizon. Has he the authority required to decontaminate Liz Truss’s brief essay in public finance? That she could do such damage in just six weeks shows the alarming fragility of a modern government. Sunak’s motto of “integrity, professionalism and accountability” could not be clearer. But stability depends on a brutal new round of spending cuts due on 31 October.
