In the News

Tory electoral suicide?

Mike McCartney

28th September 2022

The "mini" budget and voting behaviour

Unsurprisingly the papers in recent days have been full of analysis and reaction to the Chancellor's policy announcements at the end of last week.

So, as James Carville (the Ragin' Cajun), Bill Clinton's election adviser/strategist once noted, "It's the economy, stupid!". That is, incumbent parties rarely do well at the ballot box if the economy is in bad shape.

As John Curtice in the i noted:

"...the financial markets have certainly reacted adversely to the Chancellor’s statement, with a fall in the value of sterling and an increase in the interest rate for government debt. The reputational damage suffered by governments that run into trouble with the financial markets means they rarely survive at the ballot box." See here for the full article.

As Ian Dunt says in the same paper: "They [The Tories] are torching their own reputation for economic confidence in order to help the very richest in society, right in the middle of a cost of living crisis." See here.

What did voters make of Kwasai Kwarteng's speech? BBC's Newsnight went to Birmingham to find out. Watch the clip via Twitter here.

Mike McCartney

Mike is an experienced A-Level Politics teacher, author and examiner.

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