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The Rest Is Money
47. Who Killed Liz Truss? Countdown to Calamity (Part 1)
Apr 10, 2024
Exploring the financial crisis post Liz Truss's mini budget, implications on UK Government Bonds, Bank of England's inflation management critique, government turmoil from tax cuts, hidden vulnerability causing stress, UK bond market chaos affecting pension schemes, and Bank of England's intervention sparking political fallout.
40:25
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Quick takeaways
- The financial crisis in the UK was a result of Liz Truss's bold tax cut proposals lacking a clear financing plan, intensifying concerns among international investors.
- The Bank of England faced criticism for not adequately addressing inflation and interest rate hikes, contributing to the financial turmoil.
Deep dives
The UK's Government Bond Crisis of 2022
In a mini-series, Robert Peston delves into the UK's Government Bond Crisis of 2022, labeling it as a defining financial event. Peston expresses how the crisis was driven by decisions made by the Government and Bank of England, normally expected to ensure stability. This incident, characterized as a constitutional crisis, led to immense anxiety and financial turbulence in the UK.
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Discover
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