The Rest Is Politics: Leading 18: George Osborne: Austerity, Boris Johnson, and the UK's next Prime Minister
16 snips
May 15, 2023 AI Snips
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Transcript
Episode notes
Crash Imposes A Lasting Fiscal Price
- A large financial crash creates a permanent price the country must pay and cannot be wished away.
- Osborne argues honest politics about necessary hard choices secured public trust after 2010.
Single Market Exit Hurt UK Competitiveness
- Leaving the single market and customs union damaged Britain's economic performance and global influence.
- Osborne sees rejoining an equivalent arrangement as a major lever for future governments.
Protect Fiscal Institutions From Political Swing
- Strengthen independent fiscal institutions to prevent reckless short-term politics from destabilising markets.
- Make the OBR more independent and give it statutory powers like the Bank of England.