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Tag: The Unstable Pound and Government Budget – Can the Tories Rebound?

The Unstable Pound and Government Budget – Can the Tories Rebound?

The Unstable Pound and Government Budget – Can the Tories Rebound?

Finance
The sacking of Chancellor Kwasi Kwarteng after just 38 days in the job will have surprised virtually nobody, with the beleaguered Cabinet member having been sacrificed to help save Liz Truss’s troubled premiership. This is a significant sacking, especially with Kwarteng and Truss ideologically united in their belief that the latter’s so-called ‘growth’ plans could rejuvenate the country. It also highlights the tumult caused by the Chancellor’s mini budget, which has sent the economy into meltdown and seen various Tory MPs urge the PM to U-Turn on her plans. But why was the mini budget so impactful, and could things get worse before they start to improve? Let’s get into it. What Impact Did the Budget Have? The mini budget was supposed to signal Truss’s ambitious growth plan...