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Days. truss promised a successor would be chosen by the end of this week, but it, in the meantime, raises questions. first and foremost, who will that person be? and can he or she pull the uk out of this great political and economic chaos? joining me now is the editor in chief of the economist. zanny, let s count the votes. you need 100 votes or expressions of support to be a contender for the torrey party s prime minister. the former chancellor, indian brit has it. boris johnson is trying to make a comeback. can he make it? well, fareed, great to join you from this laughing stock country that we are right now. you re right, the former chancellor and the man who lost to liz truss in the leadership ....
Whether it s a means to allowing a clamp down on immigration and so the torrey party is completely it s the oldest political party in the world. it used to be brilliant [ no audio ] i ve lost audio. zanny, is part of all this also the kind of new age, where we re in an age where interest rates matter. you know, reaganism and thatcherism would work in a world of declining interest rates. deficits didn t matter because you were borrowing at almost zero. yes, i m back. interest rates do matter now. you can t just cut taxes willy-nilly and assume the deficits don t matter. interest rates are going to be ....
Market value in those three weeks. and remember, ten days of those three weeks essentially was shut down for the queen s funeral and mourning period. 81,000 conservative party members elected her as the new prime minister for the whole country, far country of 67 million people. on the basis of repudiating much of the previous 12 years of conservative party government. so this is a very weird, very quirky mandate she s picked up and this decision to cut taxes by borrowing from a market where interest rates were already rising, so the borrowing costs are going up dramatically is an extremely eccentric sort of throw of the dice that is already being punished. there are people talking, zanny will know better, and she gave a good summary of the situation. ....
There are conservatives talking about writing letters of protests and perhaps challenging her before christmas. it s italian style politics, not what we re used to from britain. and zanny, just to provide an alternative view to what we have been hearing over the past several days about how disastrous this new policy shift is, this morning the wall street journal editorial page says miss truss started pulling into the pro investment, pro growth of the economic ring. there are risks all around, but don t underestimate the risks of stagflation, the editorial page goes on to say that the pound was sinking even before her plan was announced last friday. what s your response to that? so that is true. i said that earlier. a lot of this is the strength of ....
Borrow and borrow. the bank of england will be important. it s issued statements. we need calming and confidence building. i hope she can do the pro growth, she has managed not only to upset the markets but upset her own nps. to do something politically tone deaf and repressive is impressive and the daily star today had a fantastic picture of the chancellor in a head loin that said honey i shrank the kwint. editor and chief of the economist, zanny, and editor for the financial times ed luce. john brennan joins us, why he thinks the biggest threat facing america is our own politicians. ....