Was Rishi Sunak really so stupid?

Posted on

Amongst the evidence from Lee Cain, Boris Johnson's press secretary, to the Covid inquiry was this:

The particular line I am referring to is the last, which says:

Rishi says bond markets may not fund our debt etc. He's back to Jaws mode wank.

What is clear as a result is that on 19 March 2020, Rishi Sunak did not want to close down the county to save people's lives because he was frightened that bond markets would not fund the UK's debt. Not only was that callously indifferent, it also showed he neither understood how government funding via money creation works, or understood how QE had worked even though he was about to use it again (or have its use imposed on him, more likely).

Ignorance coupled with indifference is a scary combination. Sunak had both, by the bucket load, by the look of it.


Thanks for reading this post.
You can share this post on social media of your choice by clicking these icons:

There are links to this blog's glossary in the above post that explain technical terms used in it. Follow them for more explanations.

You can subscribe to this blog's daily email here.

And if you would like to support this blog you can, here:

  • Richard Murphy

    Read more about me

  • Support This Site

    If you like what I do please support me on Ko-fi using credit or debit card or PayPal

  • Archives

  • Categories

  • Taxing wealth report 2024

  • Newsletter signup

    Get a daily email of my blog posts.

    Please wait...

    Thank you for sign up!

  • Podcast

  • Follow me

    LinkedIn

    LinkedIn

    Mastodon

    @RichardJMurphy

    BlueSky

    @richardjmurphy.bsky.social