It is too early to define Trusseconomics, but Friday’s miniBudget from Kwasi Kwarteng gave a good insight.
The aim is a pro-growth economic strategy. While all governments want higher growth, few take the actions needed to achieve this. Liz Truss is different.
The aim is to raise our economic growth rate to 2.5 per cent. It’s ambitious but achievable. It means the economy doubles in size every 29 years. We could afford better public services, while cutting taxes.
Currently, the economy doubles in size every 60 years. We already know the problems this brings.
A decade ago, weak growth led Treasury orthodox thinking to urge austerity to get the public finances in shape. In recent years it led Rishi Sunak to hike taxes. Both approaches were wrong.
This failed thinking has been turned on its head by our new PM.
Rather than accept we are destined to be a low-growth, high-tax country, the idea is to become a high growth one. Trouble is, it takes time and with the election just two years away she needs quick results.
The situation she inherited is not good. Despite a healthy jobs market, consumer confidence is low, inflation high and the economy slowing.
Ms Truss has taken firm action by fixing energy prices and reversing the tax increases her leadership rival Mr Sunak had planned.
هذه القصة مأخوذة من طبعة September 25, 2022 من Sunday Express.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة September 25, 2022 من Sunday Express.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Armchair viewers' blank afternoon
TEMPERATURES below freezing wiped out both of the ITV fixtures yesterday leaving viewers without any live racing to watch.
Kyrgios slams Sinner and will not be silenced
NICK KYRGIOS has warned he is not going “to shut up” about Italian hero Jannik Sinner’s failed drug tests in the build-up to the Australian Open.
Will power for Sarries
TOM WILLIS surged over for two tries to give England boss Steve Borthwick another compelling reminder that his Test debut is overdue.
NOW HAAL'S WELL AGAIN AT ETIHAD
THE crisis is officially over and normal service has resumed.
NWANERI ONLY HIGH SPOT FOR GUNNERS
Lacklustre draw deals title hopes fresh blow
Stroke victim meets cops who saved her
A WOMAN who had a cardiac arrest and stroke while driving and miraculously survived has been reunited with the officers who saved her life.
Mum's cash crisis after cancer bills
A MOTHER-of-three whose mouth cancer was missed due to Covid restrictions is now facing eviction after failing to pay bills during her two years of treatment and rehabilitation.
100 'jump dock' at court despite £7m safety drive
MORE than 100 prisoners have escaped custody by jumping out of the dock during the last seven years - despite a government-funded scheme to make courts more secure.
We must teach pupils why Britain is 'Great'
ALMOST from the moment the first child crossed the threshold and entered a classroom, governments, dictators and other political leaders have sought to use education as a means of indoctrination and controlling the population.
Half a billion in pensions to dead people
BUNGLING civil servants overpaid £511.8 million in state pensions and pension credits to dead recipients, and failed to claw back £256.8m of it over the past five years.
