Liz Truss and Kwasi Kwarteng's big gamble could railroad the economy off the tracks
Everyone expected tax cuts from Kwasi Kwarteng and Liz Truss, this pair who have simply come out of the blue from the Tory leadership race to play with the nation’s train set.Kwarteng took visible pride in abolishing the cap on bankers’ bonuses, relished the biggest tax cuts for the rich since the 1970s, funded by £45 billion of borrowing on you and me. Any sane government would want their winter’s tale to be about energy support for the nation’s homes and businesses.
A lot of the budget was “except for viewers in Scotland” because tax rates and house sales are set at different rates here. Scotland isn’t really shielded at all by the separate tax raising powers of the Scottish parliament. For the bigger picture look at this Tory slash and burn approach to finances from the other end of the global telescope.
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