Government Turmoil: Unfunded Tax Cuts and Financial Chaos

The chapter explores the aftermath of implementing significant tax cuts and subsidies by the UK government without a clear repayment plan, leading the country into financial turmoil. It discusses the implications of scrapping the top rate of income tax, reversing corporation tax plans, and substantial borrowing for funding these cuts, affecting the country's debt and global investors' perceptions. The narrative delves into the chaos in bond markets, anxiety among financial institutions, and the alarming rise in government borrowing due to the lack of assessing the consequences of these tax cuts.