The UK Government's Tax Cuts Have Never Really Worked

Liz Truss was elected by the Conservatives on the promise of cutting tax. On September 23, former Chancellor Quasi Quarteng introduced the UK's largest tax cuts in over 50 years. It quickly became clear that the tax cuts were ill advised and investors rejected them. The government's reputation had become so bad that Liz Truss was recorded as being the least popular Prime Minister in UK history. In an attempt to rescue her time in office, she sacked Quarteng on October 14th. His replacement, Jeremy Hunt, immediately reversed Truss's economic plan and criticised her idea of borrowing more money to fund tax cuts.

Transcript

Play full episode

Transcript

Episode notes

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!

Get the app