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‘Told you so’: EU struggles to contain Schadenfreude at UK turmoil

European capitals believe new government’s tax-cutting, high-borrowing plan exposes flawed thinking that drove Brexit

The tut-tutting from EU policymakers can almost be heard from across the English Channel.

Current and former officials in continental Europe are barely even trying to conceal their Schadenfreude over the market turmoil that has greeted the UK government’s plan to fund £45bn of tax cuts mostly for high-earners by increasing debt.

The French, German and Spanish finance ministers have all criticised the fiscal package presented on Friday by UK chancellor Kwasi Kwarteng, which has also met with opprobrium from the IMF, the US Treasury and the Federal Reserve.

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