| Author (Person) | Springford, John |
|---|---|
| Publisher | Centre for European Reform (CER) |
| Series Title | CER Bulletin |
| Series Details | Number 146 |
| Publication Date | October/November 2022 |
| Content Type | Research Paper |
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Summary: The markets brutally rejected Chancellor Kwasi Kwarteng’s 'fiscal event' on Friday September 23rd. As well as a large and untargeted energy bailout of households and businesses, Kwarteng announced big unfunded cuts to income tax, especially for higher earners, and reversed planned rises in payroll and corporation taxes. Markets responded by selling sterling and UK government bonds. This article argues that a full-blown UK financial crisis is unlikely, but if Truss doesn’t u-turn on her unfunded tax cuts, it will be hard to avoid a recession. |
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| Source Link |
Link to Main Source
https://www.cer.eu/publications/archive/bulletin-article/2022/trussonomics-has-failed-first-hurdle
Alternative sources
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| Subject Categories | Economic and Financial Affairs |
| Subject Tags | Fiscal Policy |
| Countries / Regions | United Kingdom |
