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Labour motion to ban Truss-style budget meltdowns puts pressure on Tory MPs
(www.theguardian.com)
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this post was submitted on 12 Nov 2023
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UK Politics
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General Discussion for politics in the UK.
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Usually the economic narrative that takes hold amongst the general public is a gross oversimplification or distortion of what has happened.
It is still a source of amazement to me that "Liz Truss’s catastrophic mini-budget, which sent the financial markets into meltdown and drove up mortgage rates" is not only accurate but kind of understates the stupidity of what happened.
The Tory faithful elected a simpleton, who implemented an ideological belief that has been tested in the real world many, many times and has never delivered the result that is promised (rather than the result that fantastically wealthy individuals get even wealthier, which is the actual desired outcome.)