Tax Cuts and Political Turmoil

The chapter explores the aftermath of a controversial decision to abolish the top rate of tax, sparking public outrage and criticism from key figures like Michael Gove. It delves into the implications of rolling back the tax cut for the wealthy, including scrutiny from the International Monetary Fund and discussions on fiscal responsibility. The narrative also delves into the high-stakes dynamics within the Bank of England amidst political pressures and the looming consequences of government bond purchases.