A rudderless economy and a once great Treasury that's now not fit for purpose

Daily Mail
"Today, however, Britain faces economic and financial crisis on a scale that far outweighs even these catastrophes of the 1970s and 1990s.This time the Treasury is utterly unable to cope. Indeed, it is facing the greatest crisis of confidence in its history. ...But such is the degradation of Treasury competence and morale under Gordon Brown, Alistair Darling and the department's supine Permanent Secretary Nick Macpherson that it is now considered normal to sub-contract out this kind of work, which ought to be meat and drink to Treasury mandarins. .....In other words, even as late as October 2008, and therefore after the collapse of Lehman Brothers, Treasury officials were clueless about what was going on in financial markets."