What’s Right and What’s Wrong About the Expression “Britaly”

Source: Cobden Centre
by Serio Beraldo

“According to The Economist, these turbulent times have completed the transformation of Britain into a new country, characterized by political instability and low growth, and subordinated to financial markets. Britaly is the name chosen to identify the new creature. By a twist of fate, it seems that the transformation accelerated during the short period in which Liz Truss was at 10, Downing Street. Some ten years ago, Ms Truss and her (first) chancellor Kwasi Kwarteng wrote a pamphlet titled «Britannia Unchained», where they pointed out at Italy — a country tortured by «clogged public services, low growth and low productivity» — as the example to avoid. Ironically, low productivity and low growth have now become a frequent feature of the British economy, as well as political instability. As a result, financial markets are skittish. The comparison with Italy has become unavoidable.” (11/18/22)