Fiscal conservatives are dead
When the obituary for fiscal conservatism is written, it should say that Sajid Javid was the last of a dying breed.
The short-serving UK Chancellor died on the hill of fiscal conservatism and was replaced by Rishi Sunak, who has exploded the UK deficit and showed no signs of stopping this week with a trio of deficit programs.
As the spending has risen, so has Sunak's popularity. YouGov released this tracker today:
It's the same almost everywhere. Canada this week reported a record-obliterating $343B deficit forecast and yet the minority Liberal government is soaring in the polls.
The decade ahead is going to be all about runaway spending and the illusion of a free lunch. Why? Because that's what voters want.
