Restoring Britain’s credibility will be hard for Hunt
Another round of austerity is both impossible and undesirable. If the government is unwilling to reinstate all the tax cuts it has made, it needs to find other taxes to take their place.
Talking to policymakers attending the annual meetings of the IMF and World Bank made clear the blend of amusement, anxiety and anger with which many view the UK. Kwasi Kwarteng’s mini-budget was the wrong policy (unfunded tax cuts) at the wrong time (a global crisis).
