What are the chances that the UK economy was a lot more fragile than anyone was prepared to say during the campaign and that this market shock could be far more serious than it already appears? The government couldn't really have gone with a narrative that they were running a nation that was on the brink and can't exactly turn around now and say "yeah we knew it would be almost terminal but didn't tell you"
Of course it is. Osbourne just started saying "we have a strong economy" over and over until people started believing him and to help justify the public service cuts.
What are the chances that the UK economy was a lot more fragile than anyone was prepared to say during the campaign and that this market shock could be far more serious than it already appears? The government couldn't really have gone with a narrative that they were running a nation that was on the brink and can't exactly turn around now and say "yeah we knew it would be almost terminal but didn't tell you"