Good morning, and sorry about the alliteration above. “What a day!” Kwasi Kwarteng told Conservative members yesterday, to which we might add: what a month, pal! When Kwarteng was appointed as chancellor, he wanted to fundamentally reshape the British economy in a matter of weeks. Well, job done.
Somehow, though, Kwarteng’s acknowledgment of “a little turbulence” in his speech did not receive the ritual acclamation he might once have imagined, largely because that reshaping has turned out to mean: currency fluctuations, mortgage deals withdrawn, £65bn of emergency first aid for the bond market and the prospect of deep spending cuts. Even at Tory conference, no one signed up for that.
