'A budget that harms everyone except the rich.'

For fellow Brits, or those just interested: here is a deep dive into the economic consequences of the Conservative tax cuts from Oxford economist Simon Wren-Lewis. The TLDR is that the new budget won't produce a growth boom and therefore won't offset either the inflation (cost of living) crisis or the devaluation of the pound. Wren-Lewis also predicts that this will inevitably lead to further cuts in our already teetering public services.

This is grim reading. I want this to be wrong but I know that it's not:

https://mainlymacro.blogspot.com/2022/09/a-budget-that-harms-everyone-except.html

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MartinII · 70-79, M

Just one economist, and presumably a left-wing one, like most British economists (which is a bit odd, to anyone who knows something about economic history!)

Roundandroundwego · 61-69

@MartinII and everyone who owns any Pound Sterling.

Burnley123 · 41-45, M

@MartinII He's centre left.

It's not just his opinion, it's the markets. They are not left wing but are betting against Truss!

MartinII · 70-79, M

@Burnley123 Yes, and part of the problem is the government’s total failure to explain its policies properly (see my separate comment below). Perhaps they don’t have an explanation!