The UK Economic Crisis Might Not Be a One-Off

Markets have reacted poorly to the UK government’s new “mini-budget” combining energy price caps with tax cuts for the well off. The government’s search for a quick fix to economic growth is a mistake. In fact, restarting productivity...

Britain was the focus of the world during the Queen's funeral. It was a solemn and stately event. The Prime Minister and her finance minister announced their tax and spending plans the next day. The mini-budget caused a collapse in the price of UK government bonds and almost caused a collapse in pension funds on the scale of the global financial crisis. The plan was rebuked by the International Monetary Fund.

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