[Sephiroth]

John Redwood is in favour of lower taxes and gives his reasons in his blog. https://johnredwoodsdiary.com/

To that extent, he favours the Guvmin's recent steps.

In today's blog, he makes an important observation:

These interest rates matter. There are 2,5, 10, 20,30 year rates and others in between. If the 10 year or 20 year bond rate goes up so bank lending for people to buy homes will also go up, as will the cost to business of a longer term loan to invest in their company. Mortgage holders and businesses do not want their Central Bank actively intervening in the markets to drive these interest rates higher. The Bank should believe its own forecasts which show inflation tumbling next year. High energy prices and dearer mortgages are already taking too much demand out of the economy. Thank you Bank for at least a temporary pause to your driving the mortgage rates up.

John believes that the Guvmin's strategy will work if it sticks to that strategy.

I just hope he's right but I'm anticipating the worst.