I wrote a column for The National in Scotland yesterday:
I think this my best iteration of my concern about Sunak's plans for austerity so far. I concluded with a particularly Scottish twist:
What to do about it? First, understand the economics of this. I explain them in my free ebook, ‘Money for nothing and my Tweets for free'.
Second, tell everyone that Sunak is lying when we need austerity.
Third, campaign for independence so that Scotland can be free of the wretched thinking of the UK Treasury that demands austerity whenever it can get it.
Fourth, reject any suggestion that Scotland will ever use sterling as its currency, because that would keep the UK Treasury in charge of Scottish economic policy, and guarantee austerity even in an independent Scotland.
Fifth, demand that Scotland have the right to make its own economic decisions. If you care about the future that has to happen. Sunak prefers bankers to children's education. That's an ideology Scotland has to be free from.
The threat I outline is, however, universal. Sunak is planning to harm people's well-being without good reason. If that is not cause for anger I am not sure what will be. One thing I am sure of is that it will cause serious problems in Downing Street. This is not boosterism and Johnson won't like that.
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Sunak is fingered as one the most dangerous players in the book ‘Failures of State’ and he is certainly living up to this billing.
It is a pity that we must suffer the likes of him at all. But let’s face it – he is rich but rather dim like most Neo-liberals.
“Dim” is not the point though, is it? What matters is: a) is he popular with the Conservative grassroots? and b) would be deliver an election victory next time around?
And how dim is it to stick with the tried and tested dogma which is “balancing the books / cutting public expenditure?” In Toryland, and indeed even in virtually the whole of Westminster & Fleet Street, this is what people believe.
Johnson is unable to confront him on education (assuming he wanted to) – it is just too hard to take on the entire establishment on this, even if he did understand the nature of “debt” and the creation of money.
But he probably doesn’t.
Dishy Rishi wins by one goal to nil
Is the argument on decoupling from sterling won or ongoing, Richard?
Far from won …..