Backbench members of the ruling Conservative Party are very used to trying to find a scapegoat to deflect the blame for their often-poor performance.

This was particularly clear during the Pandemic, and it is happening again as the economy stumbles along. It is more due to luck than judgment that the country looks likely to just about avoid falling into recession.

The scapegoat this time around is Bank of England Governor, Andrew Bailey, who is a solid technocrat who lacks the charisma of his predecessor, Canadian, Mark Carney.

Carney was struck in the mould of earlier Chairmen of the Federal Reserve and commanded the respect of politicians and businesspeople alike, while Bailey appears to be a little “lightweight” for the role.

Therefore, he appears to be an easy target to blame for the current cost of living crisis and is facing pressure to resign from the aforementioned MPs.

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