Ironic that one of the biggest economic problems that Sunak will inherit and claim to fix he actually created.
Before his resignation and the subsequent collapse of the Johnson government, which was a clearly in his own self interest to take power, there was no Moron Risk Premium (FT name) on UK Gilts and mortgage borrowing.
Since then the political carnage has created this premium and only drastic cuts or tax rises will bring this down.
Ironic that one of the biggest economic problems that Sunak will inherit and claim to fix he actually created.
Before his resignation and the subsequent collapse of the Johnson government, which was a clearly in his own self interest to take power, there was no Moron Risk Premium (FT name) on UK Gilts and mortgage borrowing.
Since then the political carnage has created this premium and only drastic cuts or tax rises will bring this down.