There's a school of thought that LCY has the backing of Old man to say that. Idea is to stick some spurs into govt inertia and test the market with contrarian provocations. kind of opinion balloons.
Wasn't he related to the 'royal house', his daughter married to....?? I remember LCY, and was never impress with him, when I was studying we had to switch from John Lyyod Hanson "A textbook of economic" (ISBN9708712120203), in which I still have the battered, worn out book, with me; to LCY textbook of economic, in which we have to switch over. As for LCY book, it was been 'reccyled' as waste..