Why investors hate the UK PM’s biggest tax cuts in decades
The Bank of England is tapping the brake, Liz Truss is hitting the accelerator. Nobody knows which way the economy will go, and the markets want to get off.
London | Britain’s new prime minister, Liz Truss, has a penchant for cosplaying Margaret Thatcher. But so far, there isn’t much policy resemblance to her fiscal disciplinarian idol.
Their main point of overlap: the British pound hasn’t sunk this low against the greenback since Thatcher was in office, back in 1985.
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Hans van Leeuwen covers British and European politics, economics and business from London. He has worked as a reporter, editor and policy adviser in Sydney, Canberra, Hanoi and London. Connect with Hans on Twitter. Email Hans at hans.vanleeuwen@afr.com
