The Director of the Federal Trust, Brendan Donnelly,  argues that Kwasi Kwarteng’s budget reflects all the problems of Brexit.

It is reckless, it is based on fantasy and it will help the minority at the expense of the majority. It is a giant step towards “Singapore on Thames.” The reactions of international markets are already destabilising the position of Liz Truss and her new government.

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Brendan Donnelly is the Director of the Federal Trust and a former Conservative MEP.

John Stevens is the Chairman of the Federal Trust and a former Conservative MEP.