In Ñspel: The Guardian view on the UK economy: old folly or new folly

‘Jeremy Hunt should remember that the best alternative to one sort of folly is never to embark on another sort.’ Photograph: Hannah McKay/Reuters
‘Jeṛmi Hunt śd rmembr ɖt ɖ bst oltrṇtiv t wn sort v foli z nvr t imbarc on anɖr sort.’ Foṭgraf: Hana MCe/Rôtrz

Ɖ Gardịn vy on ɖ YC icoṇmi: old foli or ny foli

(Transcription of a Guardian editorial of 11 Nov. 2022)

Nxt wīc’s ōtmstetmnt wl śo f Jeṛmi Hunt hz lrnt enʈñ fṛm Jorj Ozbōrn’z n Qāzi Qarteñ’z fełrz

Frîde 11 Nvmbr 2022

A  fūl rpits hiz foli, ɖ Old Tsṭmnt sjsts, in ɖ sem we ɖt a dog rtrnz t its ǒn vomit. Qāzi Qarteñ sīmz dtrmind t pruv ɖt ɖs z tru. On Frîde h md tū fōls clemz abt hiz śort teńr at ɖ Treẓ́ri. Ɖ frst z ɖt hiz 23 Sptmbr mini-bujit wz nt a cōz v ɖ guvnmnt’s cuṛnt fînanśl woz. Ɖ secnd z ɖt Liz Trus forst ɖ pes on ic̣nomic poḷsi tù hard jrñ hr brīf pirịd az prîm̦inistr, ẃl Mr Qarteñ, īvn mor brīfli hr ćanslr, argyd fr a slowr aproć.

Nɖr clem standz p. Nwn pritndz ɖt ɖ mini-bujit z ynīcli rsponsbl fr ɖ hî levlz v YC public dét ɖt r nǎ biyñ invoct az ɖ justiḟceśn fr nxt wīc’s lūmñ ōtmstetmnt. Ɖr r mni uɖr larj cōzz, sm v ɖm globl, lîc Covid n eṇjicosts, n uɖrz closr t hom, includñ Brexit. Ɖ mini-bujit, ɖo, md ʈñz īvn wrs. It trigrd a run on ɖ pǎnd, a lrć in gílts, a Banc v Ñgḷnd bai-up imrjnsi n a tîṭnñ v ɖ morgijmarcit. It sz a lot abt Mr Qarteñ n Mz Trus’z doctṛner wñ v ɖ Cnsrṿtiv parti ɖt, īvn nǎ, ɖe rmen in dnayl abt smʈñ ɖ votrz unḍstand mor clirli fṛm ɖer ǒn xpirịns ɖn ɖz dscredtd ministrz evr dd.

Mz Trus n Mr Qarteñ undǎtidli hd dis’grīmnts abt ptiklr emḟzīz in ɖer daś fr groʈ. Ɖ fact ɖt ć hz nǎ traid t dump ɖ blem fr ẃt wnt roñ on ɖ uɖr sjsts ɖt. Bt ɖ tū v ɖm wr coǒnrz v ɖ poḷsi, n wr jônd p’liticli at ɖ hip. Mr Qarteñ canot iscep ɖ riaḷti ɖt, on ɖ īv v ɖ Tori-parti confṛns, h tld ɖ BBC’z Lora Kuenssberg ɖt ɖr wr mor taxcuts t cm. Ɖt wz sd az a bost, nt a wornñ – n it spūct ɖ marcits. Mr Qarteñ z śaḅli trayñ t ived rsponsbiḷti fr ɖ c’laṃti v hiz ǒn ax́nz. Wns agn, ɖ votrz wl b ɖ juj v ɖt.

Ẃl Mr Qarteñ spinz hiz slf-srvñ vrśn v ɖ past, ɖ rest v ɖ cuntri fesz ɖ fyćr ɖt h n hiz parti hv bqiɖd. On Frîde ɖ Ofis fr Naśnl Sttistics cnfrmd ɖt ɖ YC icoṇmi śranc in ɖ ʈrd qortr bî 0.2%. Ɖ srvișectr, wns an enjin v groʈ, hz grǎnd t a hōlt in ɖ fes v ɖ cost-v-livñ crîsis. Hayr inṭrest rets n record infleśn mīn ɖ icoṇmi wl śrinc frɖr bî ɖ yir end, tipñ Britn intu an ofiśl rseśn ɖt z lîcli t last ʈru 2023.

Ɖr wz olso conḟmeśn on Frîde ɖt Britn hz bròt sm v its trublz on itslf. So far, it z ɖ onli cuntri in ɖ G7 grūp v līdñ icoṇmiz huz icoṇmi hz śrunc in ɖ ʈrd qortr. Ol ɖ G7 cuntriz fes ɖ sem globl hedwindz az Britn. Ɖ YS, Caṇda, Frans, Iṭli n Jrṃni, ɖo, r ol stl growñ. Ɖ cncluźn z obvịs. Britn’z ptiklr pridic̣mnt rflects ɖ ptiklr ćôsz ɖt it n its guvnmnts hv md.

Jeṛmi Hunt, ɖ lêtist v ɖ for ćanslrz ɖt Britn hz brnd ʈru ɖs yir, tecs a mor orʈ̇dox Treẓ́ri vy ɖn Mr Qarteñ. Hiz ōtm ic̣nomic stetmnt wl nnɖles b ɖ dfînñ fînanśl n p’liticl momnt v ɖ Riśi Sūnac guvnmnt. Nxt Ʈrzde wl śo ẃɖr it hz lrnt ɖ lésnz nt jst v Mr Qarteñ’z daś fr groʈ ẃl Mr Hunt wz on ɖ bacbnćz, bt olso v ɖ pṛloñd osteṛti undr Jorj Ozbōrn ẃn Mr Hunt srvd az a sīńr membr v cabiṇt. Ɖ omnz fr ćenj r nt gd. Bt ɖ ćanslr śd rmembr ɖt ɖ bst oltrṇtiv t wn sort v foli z nvr t imbarc on anɖr sort.

Instroduction to Ñspel

"House by the Railroad," Edward Hopper, 1925

13/11/2022

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