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We probably wouldn’t notice if Keir Starmer didn’t diverge from the EU. The Tories haven’t either
Mark Carney once again proved himself to have the brassiest of brass necks this week when he claimed that Liz Truss had turned Britain into “Argentina on the Channel”. The former governor of the Bank of England also criticised “far-Right populists” and Brexiteers for having a “basic misunderstanding of what drives economies” during a typically self-serving speech in his native Canada.
With Argentina having become a byword in recent years for economic crisis, the reference was intended as a slight on the mini-Budget drawn up by Ms Truss and her chancellor Kwasi Kwarteng last year. Speaking at the Global Progress Action Summit in Montreal, Carney hit out at the “misguided view” that reducing taxes and government spending leads to economic growth – and accused Brexiteers of wanting to “tear down the future”.
But isn’t it more a case of Brexiteers wanting to recreate the past, pre-Carney world of economic growth over managed decline?
During his tenure as governor from 2013 to 2020, the UK’s GDP growth rate struggled at around 2 per cent a year, before falling to 1.6 per cent in 2019 before lockdown caused it to drop to minus-11 per cent in 2020, according to World Bank figures.