The day before Philp’s comments, the Bank of England intervened with a £65 billion emergency bond-buying programme to quell a market meltdown.
The International Monetary Fund also issued a rare rebuke to the UK government, criticising its tax plans and warning that the measures may increase inequality.
Mark Carney, the former governor of the Bank of England, accused the government of “undercutting” the country's economic institutions.
The Chief Secretary to the Treasury talking dangerous nonsense to radio listeners. Chris Philp served as Chief Secretary to the Treasury between 6th September 2022 and 14th October 2022, when he was appointed Paymaster General. A few days later he was moved to a role at the Home Office.
We emailed Chris Philp’s office offering him the chance to respond. The email was received, but no reply.