A striking thing about this Conservative leadership election is just how unconservative it is. In days gone by one might have expected the candidates to extol the importance of fiscal rectitude, keeping taxes low, deregulation and public spending restraint. But there has been very little of this.
The fact becomes more surprising still when one thinks that the UK is now in its ninth year of economic growth. Inflation and interest rates are low, employment is at an all-time high. The UK’s public finances are at last under control. This is, many would say, the moment to be storing away the grain against the proverbial and inevitable “rainy day”.
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