Brittle Britannia: what just happened?


Peter Warburton writes that in late September 2022, the UK plunged into financial crisis as the cost of borrowing soared and the purchasing power of Sterling slumped. While an ill-conceived mini-Budget provided a convenient scapegoat, the real story is the underlying fragility of our debt-ridden economic and financial system. The UK government’s extravagant support for the economy during the pandemic has unleashed some powerful forces that will bring profound consequences.