Sunak Blws £11Bn By His Incompetence

[Gromit]

// Last year, when the official rate was still 0.1%, the NIESR urged the government to insure the cost of servicing this debt against the risk of rising interest rates by converting it into government bonds with longer maturity.

Chadha said they had now calculated that Sunak’s failure to heed their advice – despite having regularly warned about the risks of higher inflation and interest rates on the costs of servicing the government’s debt – had cost taxpayers £11bn. //

https://www.theguardian.com/politics/2022/jun/10/rishi-sunak-wasted-11bn-by-paying-too-much-interest-on-uk-debt

Whoops. There goes his chance of taking over from Boris.

[FatticusInch]

Lol, these are the multi-millionaires the UK public actually elect to play real-stakes Risk and Monopoly with their earnings, pensions, hopes and dreams, knowing full well that regardless of the fate and poverty they will in all probability abandon them to the public will never in a million years question them, their antecedents nor offspring in their ivory towers.
What on earth impels the public to choose the super-rich, highly privileged and entitled to lead them head-long into despair and insecurity?
Why is it that those deemed by their peers to be honourable, trustworthy and honest never seem to make if to the big seats? Are they suppressed by the greedy?
What is the underlying current that prevents it? Is it pure avarice following false promises from bankers and financiers or is it a quest to continue the status quo, having already attained wealth beyond the wildest dreams of those they are meant to serve?
Or is it an Orwellian dream to keep the underlings in their place ad infinitum?
I’m really questioning the outlook and mindset of all the mainstream parties. Where are the decent and honourable characters in British politics?

[david small]

Stupidly, and arrogance. Fate will do the rest.

[bobbinwales]

It's allways easy with hindsight isn't it

[Gromit]

The NIESR urged warned Sunak last year, before the inflation rate rise.
That is not hindsight, it was foresight.
Which the chancellor did not heed for some reason.

[ToraToraTora]

If only we had a Captain Hindsight. Did this guy also recommend putting a tenner on the second favourite in the 3 o'clock at Kempton?

[douglas9401]

It's only 11 Billion, where's everybodys sense of perspective?

Remember he's the guy who lets you all work in your pants in case you catch a cold.

It's pretty tragic that we've chosen these elite cartoon characters to manage our lives.

[Gromit]

Sunanaks blunder was bigger than Brown selling our gold reserves at the wrong time.

// Prof Jagjit Chadha director of the National Institute of Economic and Social Research said the losses were the result of the chancellor’s failure to insure against interest rate rises on £900bn of reserves created through the quantitative easing (QE) programme. //

[Gromit]

Did Prof Jagjit Chadha, director of the National Institute of Economic and Social Research recommend putting a tenner on the second favourite in the 3 o'clock at Kempton?

Don’t think so.

You should seek help for your gambling addiction.