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Inside politics

Has Rishi turned red?

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Few British politicians “embody the capitalist spirit” more than Rishi Sunak, says Kate Andrews in The Spectator. He’s a graduate of Stanford business school, a former Goldman Sachs banker, and the richest prime minister in history. As chancellor, he was a “fiscal hawk” perpetually trying to rein in Boris Johnson’s spendthrift instincts. But now he is in No 10, he is residing over a state twice as big as that of the 1970s, and the highest tax burden of Britain’s postwar history. “These are government interventions that Tories would have once mocked” – indeed, even Labour has derided the recent proposal for “voluntary” supermarket price caps. The PM likes to make big speeches criticising the “ever-expanding state” and praising free enterprise. “But governments are judged by what they do, not what they say.” And the more he steals Labour’s economic playbook, the more “leeway” he gives the opposition to go even further once they get back into power.