According to billionaire investor Ray Dalio, the financial market upheaval brought on by the U.K. government’s spending plan “suggests incompetence.”

Dalio remarked on BBC Radio 4’s “Today” programme on Wednesday, “I can’t think that this is meant, and if it’s not intended then it’s an understanding question.”

His remarks were in reference to the market volatility that followed the fiscal announcements made by Finance Minister Kwasi Kwarteng late last week. Large portions of the unfunded tax cuts included in the proposals have garnered condemnation from all across the world, including the International Monetary Fund.

In an effort to calm the markets, the Bank of England announced on Wednesday that it will temporarily buy government bonds in order to “establish orderly market conditions.

Dalio has added his name to a growing list of economists who are opposing the policies that Liz Truss’ administration has presented.

According to the founder of Bridgewater, one of the biggest hedge funds in the world, a nation cannot become wealthy by running massive deficits because it needs lenders ready to take on that debt.

Long-term economic growth is fueled by productivity, not consumption, according to Dalio.

Dalio added, “I would expect the government would have a knowledge of the mechanics of that and that’s why it’s disturbing.

The panic selling that caused the collapse in British bonds, currency, and financial assets, according to Dalio, was “caused by the awareness that the large amount of debt that will have to be sold by the government is much too much for the demand,” he said through Twitter.

“That encourages people to leave their debt and currencies behind. How the people who were behind this decision didn’t realise that is beyond me. It implies ineptitude,” he continued.

When reached by CNBC, a Downing Street official was unavailable to comment right away.

The government’s medium-term fiscal plan will be unveiled on Nov. 23, according to a statement from the U.K. Treasury on Monday.

The U.K. government’s spending plans, according to Jonathan Portes, a professor of economics and public policy at King’s College London, “set the country’s debt and deficit on an unsustainable course.”

Portes said on CNBC’s “Squawk Box Europe” that it has “rightly, in my opinion, been considered as needless and destructive by economists across the political spectrum.”