Keep An Eye On UK Economy

[Kathianne]

New Prime Minister seems to be keeping her promises, though so far the 'experts' aren't happy.

https://www.wsj.com/articles/the-united-kingdoms-growth-plan-kwasi-kwarteng-liz-truss-tax-cuts-11663959630?st=hcvuua5u815px5w&reflink=desktopwebshare_permalink

[fj1200]

New Prime Minister seems to be keeping her promises, though so far the 'experts' aren't happy.

https://www.wsj.com/articles/the-united-kingdoms-growth-plan-kwasi-kwarteng-liz-truss-tax-cuts-11663959630?st=hcvuua5u815px5w&reflink=desktopwebshare_permalink

Very nice. Two things...


Mr. Kwarteng axed the 2.5-percentage-point increase in the payroll tax imposed by former Prime Minister Boris Johnson (https://www.wsj.com/topics/person/boris-johnson), and canceled a planned increase in the corporate income tax rate to 26% from 19%.

But conservative...

And...


Every other central banker in the developed world would probably love to be in Mr. Bailey’s shoes right now. As they have tightened monetary policy to combat inflation, they all beg their political counterparts to enact supply-side pro-growth policies to ease the recessionary impact of tighter money. Mario Draghi said it in every speech when he ran the European Central Bank. Mr. Bailey has a Prime Minister who’s actually doing this, and all he can do is complain.

United States early 80s. Volcker had already been doing the tightening but some supply side growth really gave another purpose for all those dollars floating around. Let's see if it works and then if the Republicans can take note and rise above the bickering.

[Gunny]

New Prime Minister seems to be keeping her promises, though so far the 'experts' aren't happy.

https://www.wsj.com/articles/the-united-kingdoms-growth-plan-kwasi-kwarteng-liz-truss-tax-cuts-11663959630?st=hcvuua5u815px5w&reflink=desktopwebshare_permalinkWorth watching. I don't expect our current Amin to learn anything from it any more than it has learned from Europe's fantasy world going green while being heavily dependent on imported (from Russia mainly) energy.

[Gunny]

Very nice. Two things...



But conservative...

And...



United States early 80s. Volcker had already been doing the tightening but some supply side growth really gave another purpose for all those dollars floating around. Let's see if it works and then if the Republicans can take note and rise above the bickering.

Surely you jest. They can't even rise above the bickering to take advantage of this Admin's failures for the Midterms.

If this is a long term strategy (for Truss-the UK), the left will surely try and sabotage it.

[fj1200]

Surely you jest. They can't even rise above the bickering to take advantage of this Admin's failures for the Midterms.

If this is a long term strategy (for Truss-the UK), the left will surely try and sabotage it.

No jest. Just hope.

[Kathianne]

Didn't last long:

https://hotair.com/jazz-shaw/2022/10/03/uk-reverses-cancels-tax-cut-for-high-earners-n500468

[Kathianne]

Rachet:

https://www.wsj.com/articles/liz-truss-meets-the-big-government-ratchet-imf-biden-conservative-party-fiscal-policy-income-payroll-corporate-tax-energy-11664806032?st=xmq709f7to26zmc&reflink=desktopwebshare_permalink

[Gunny]

Rachet:

https://www.wsj.com/articles/liz-truss-meets-the-big-government-ratchet-imf-biden-conservative-party-fiscal-policy-income-payroll-corporate-tax-energy-11664806032?st=xmq709f7to26zmc&reflink=desktopwebshare_permalink

Isn't that the truth.