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Old 10-01-2025, 00:37   #602
1andrew1
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Re: Starmer’s chronicles

Comedy gold! I suspect that the Streisand effect may come into play here!

Quote:
Liz Truss sends cease and desist letter to Sir Keir Starmer over claims she 'crashed the economy'

The letter says his claims were made to make Liz Truss lose her South West Norfolk seat. It also says what happened after the mini budget is not the definition of a "crash".

Sir Keir's spokesman said the prime minister has no plans to "moderate his language" based on the letter.

He also questioned whether Ms Truss will be writing to the "millions of people up and down the country" who shared Sir Keir's view.

Market movement following the mini budget did not constitute a "crash", the letter says, and accuses Sir Keir of displaying an "ignorance of basic economics" by doing so.

Following the mini budget, which included £45bn of unfunded tax cuts, the UK government's long-term borrowing costs rose sharply by 0.3 percentage points over a day.

The pound then fell to record lows against the dollar, and there was another sharp rise in the cost of long-term government borrowing by 0.5 percentage points after then chancellor Kwasi Kwarteng hinted there would be further tax cuts.

This led to rising mortgage rates, with hundreds of products withdrawn, and an impact on UK pension funds.
https://news.sky.com/story/liz-truss...onomy-13285944
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