Quote:
Originally Posted by Damien
The energy package isn't what caused the panic. It was the tax cuts. The Government is telling lenders that they're going to continue to borrow money
|
Fair play to Pierre to step up as the first to attempt to defend the Government’s mismanagement of the economy, if I’d to place a bet it’d have been on someone else. 0/10 for his sleight of hand trying to claim it was energy and not the “mini-budget”.
The Covid comparison is entertaining too - what was the genuine alternative? Head in the sand? Almost all major economies had to do similar and those that didn’t haven’t had economic advantage, hence the financial markets had nowhere else to bet on for better returns.
It’s also worth noting that the major central banks were supporting the move, lowering the cost of borrowing in the process. Monetary and fiscal policy were aligned. Unlike the current car crash uncosted borrowing as the cost is forecast to be the highest in decades.