Austerity 2.0: have we forgotten that recessions don’t cure inflation?
Combined with monetary tightening, austerity will lower economic growth and lead to more austerity.
Combined with monetary tightening, austerity will lower economic growth and lead to more austerity.
With further interest rate rises on the way, and the UK probably already in recession, financial stress is likely to mount.
The new chancellor has delivered a bombshell statement, reversing almost all of the Kami-Kwasi budget policies in a bid to bring stability.
Speaking from the Treasury, the new chancellor Jeremy Hunt has reversed most of the tax cuts announced in Kwasi Kwarteng’s mini-budget.
The decision some UK pension funds made to clear derivatives used in so-called liability-driven investment strategies exacerbated the industry-wide cash-crunch that prompted the Bank of England to intervene in Gilt markets in late September, pension experts say.
Mortgage rates have been on the rise for months but they took a sharp incline following the government’s explosive budget announcement.
While policy needs to be focussed on reforms that grow the economy, the PM forgot the context. That’s the conflict in Ukraine.
As pundits rush to defy economic gravity and create an alternative reality, there is no shortage of scapegoats for the fiscal earthquake.
Daily Briefing: The Bank of England has made an unprecedented intervention in a bid to calm the financial chaos unleashed by the Chancellor’s mini-maxi budget.
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