Parts of Theresa May’s speech were however very ‘Keynesian’.
“People with assets have got richer. People without them have suffered. People with mortgages have found their debts cheaper. People with savings have found themselves poorer. A change has got to come. And we are going to deliver it.”
Earlier in the week Chancellor Philip Hammond confirmed the Government would also ditch Mr Osborne’s target of balancing the budget by 2020 – a symbol of the austerity era – adding that he was instead willing to borrow more to invest in infrastructure.
The shift in economic policy dovetailed with the broader message of her speech, in which she pledged a more interventionist Government and put big business and the rich “on warning” that she would chase them if they broke rules. The Independent
Balancing the budget a symbol of the Austerity era? Does that imply that the Austerity era is over, at least in Britain? I am very suspicious.