Rachel Reeves has a deep respect for officialdom and institutions and was aghast at the way Liz Truss simply ignored the Office for Budget Responsibility when putting together her doomed ‘mini Budget.’

Cast your mind back to the early days of the Truss administration (which, as it turned out, weren’t very far from the final days) and you’ll remember the confidence with which certain Tory MPs dismissed the OBR as not fit for purpose.

It was, they said, part of an economic ‘orthodoxy’ that was too rigid and too unwilling to consider dynamic modelling of policy choices and supply-side........

© City A.M.