Quote:
Originally Posted by Pierre
Apart from cutting the 45% rate, I'm struggling to see what else about the mini-budget was so abhorrent? that everybody is losing their minds over.
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Wheeling out the magic money tree for a policy proven, decade after decade, in country after country, to not promote growth generally destabilises the markets. The fact the Bank of England had to step in shows the markets have lost confidence in the UK, making debt more expensive for the Government pushing up the cost of lending (mortgages). On top of that the forecast drop in house prices risking negative equity for some, and diminishing the nest egg value for their kids for others.
Other than that, it was all quite tame.