The Importance of Fiscal Policy in a Recession

In 1981, the first such government makes an infamous budget because it increases taxes in a recession. The whole point of it really is to get away from using monetary policy and interest rates as the only anti-inflationary policy. Anybody who thinks Liz Truss is somehow an heir to Thatcher should go back and read the early biographies of Mrs Thatcher in those early years. It's just the opposite of Liz Truss.