“Just as Liz Truss did, Sunak likes to invoke Margaret Thatcher, who doubled VAT and created three million unemployed, mainly in the de-industrialised north and Midlands of England. Forty years later, the regions remain mired in poverty amid evaporating dreams of “levelling up” thanks to Brexit.”
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One can only feel sorry for Rishi Sunak. His years at Goldman Sachs and making a fortune running one of his father-in-law’s hedge funds, as well as a sheltered life in the la-la land of California financial speculation, are no preparation for the wretchedly hard decisions he has to take this week.
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