Last autumn’s chaotic mini-budget and resultant plunge in the value of the pound was a “self-induced financial crisis”, former chancellor George Osborne said.
Her government’s mini-budget on September 23 then led to a loss of confidence in the currency and bond markets, leading to the pound dropping to an all-time low against the dollar and a crisis in the pensions market.
“There is a real responsibility for the Governor of the Bank, the Chancellor of the Exchequer, the Prime Minister, in particular, to make these arrangements work,” Mr Osborne said. Mr Osborne added: “You had an elected government in this country challenging essentially the legitimacy of the Bank Governor and the Bank of England.
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