Let’s start with the good news. This change of Prime Minister undoubtedly makes a difference for the better. The Conservatives have finally found a leader with a decent chance of making it until the next General Election, providing some much-needed political stability. The financial markets have reacted positively too: the pound has strengthened, the cost … Continue reading Rishi Sunak offers greater stability, but also more pain
Tag: GDP
Can ‘Trussonomics’ survive?
The new Government is clearly in an almighty mess, but I’ll leave the political commentary to others. Here are some thoughts on the economics and the markets. Let’s start by summarising what went wrong. The tipping point was the mini-Budget in September. The mistake here was not the Energy Price Guarantee, or the cancellation of … Continue reading Can ‘Trussonomics’ survive?
‘Morning after’ reflections on the mini-Budget…
It may well take some time for the dust to settle on Kwasi Kwarteng’s first Budget (yes, ‘Budget’: if it looks like a duck, walks like a duck and quacks like a duck, then it’s fair to call it a duck). The initial reaction from most economic commentators and in the financial markets has been … Continue reading ‘Morning after’ reflections on the mini-Budget…
What have we learned from the first week of ‘Trussonomics’?
The old saying that a ‘week is a long time in politics’ can rarely have been more apt. The changes in Westminster have been overshadowed by the transition in the Monarchy. But the new Prime Minister has also begun to tackle the challenges facing the UK economy. The first big policy announcement was a freeze … Continue reading What have we learned from the first week of ‘Trussonomics’?
Plain-speaking Economics 