The stupidity of Kwasi Kwarteng’s policies means markets expect their reversal, says Tony Yates
The former strategist at the Bank of England explains why the package will not stimulate growth
IN RECENT DAYS Liz Truss, Britain’s prime minister, and Kwasi Kwarteng, her chancellor, have introduced tax cuts that will eventually amount to £45bn per year or about 1.5% of GDP. They will help even those with high incomes, without any cuts yet announced to government spending to match them.
From the October 1st 2022 edition
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Time is not on Russia’s side, argues Finland’s foreign minister
Elina Valtonen calls for a lower oil-price cap and tougher measures against Russia’s shadow fleet
Oriana Skylar Mastro makes a case for paring America’s nukes
The political scientist explains why beefing up is bad China strategy
A new Iranian approach to regional security and prosperity, by M. Javad Zarif
Iran’s vice-president on how his country can make the region more secure and prosperous
America’s debt cannot keep stacking up, says Jeffrey Gundlach
The “King of Bonds” sees the risk of a debt restructuring with global repercussions
South Korea’s crisis highlights both fragility and resilience, writes Wi Sung-lac
The country is deeply polarised, but its living memory of military rule strengthens its commitment to democracy
How to turn European savings into investment, innovation and growth, by Christine Lagarde
A fragmented financial infrastructure means that Europe gets less bang for its euro