Inflation

No, we’re not travelling back in time. However, there’s a pleasing, faintly absurd symmetry to events. A Prime Minister exits the stage without warning. His successor reaches for a steady pair of hands to run the Treasury. The Chancellor’s surname is Healey once again. Fifty years apart, almost to the month. The UK has done this once before and the first-time, it ended with the International Monitory Fund (IMF) on the phone, the pound in freefall, and a Chancellor turning back from the airport to sort it out personally. So now that Andy Burnham has installed John Healey at Number…