Thread: Liz Truss Resigns [Who'll be the next Prime Minister?]
View Single Post
Old 11-10-2022, 22:12   #929
1andrew1
cf.mega poster
 
Join Date: Dec 2013
Posts: 15,268
1andrew1 is cast in bronze1andrew1 is cast in bronze1andrew1 is cast in bronze1andrew1 is cast in bronze
1andrew1 is cast in bronze1andrew1 is cast in bronze1andrew1 is cast in bronze1andrew1 is cast in bronze1andrew1 is cast in bronze1andrew1 is cast in bronze1andrew1 is cast in bronze1andrew1 is cast in bronze1andrew1 is cast in bronze1andrew1 is cast in bronze1andrew1 is cast in bronze1andrew1 is cast in bronze1andrew1 is cast in bronze1andrew1 is cast in bronze1andrew1 is cast in bronze1andrew1 is cast in bronze1andrew1 is cast in bronze1andrew1 is cast in bronze1andrew1 is cast in bronze
Re: Liz Truss [Prime Minister]
Good summary of the dilemma faced by Kwarteng and Truss.
Quote:
By the way, if the fundamental threat to financial stability is - as I argue - the unfunded tax cuts, a restoration of stability requires the Chancellor to cancel or massively delay the cuts (and increase corporation tax as per Sunak’s plan).

But I don’t think there has ever been a u-turn on that scale in modern politics. Kwarteng could not survive that humiliation and it is not clear the PM could either, because the big money cuts were her summer leadership pledges. This is a monster of an interconnected political and economic crisis.
https://twitter.com/Peston/status/1579901975768203265
1andrew1 is offline