'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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supersnipe · 61-69, M

Bought this today...

Burnley123 · 41-45, M

@supersnipe That's a brilliant cover. Thanks for sharing.

It tells you something when even the intelligent centre-right publications are lambasting them.

supersnipe · 61-69, M

@Burnley123 I quote from their editorial page:

In its first weeks, the new government has shredded its own reputation, unleashed higher inflation, forced emergency action from the central bank, and made growth harder. Just imagine what it can do in a month or two.