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But we saved everything 🙂.
John Redwood criticizes the establishment for failing to learn from repeated financial mistakes. He points to a pattern of costly errors, including the Treasury and Bank boom-bust of 1972-6, ERM boom-bust 1987-92, great banking boom and crash 2005-10, and the inflation of 2022-23.
Redwood has recently flagged that U.K. government borrowing exceeded forecasts by £7.7 billion in two months, urging caution on spending in an earlier article. He has also criticized Bank of England bond sales at a loss and questioned the central bank’s approach to interest rates and inflation. The interventions follow his continued scrutiny of economic policy decisions.