Bloomberg UK Politics
Bonding with Markets: Can Labour Woo the City?
Jan 4, 2024
Labour's general election campaign and the importance of keeping the bond market on side. Analysis of Labour's stance on economic policies, their positioning as the change candidate, and the relationship between Labour and the markets. The importance of a credible fiscal plan and the impact of the bond markets on the wider economy. Exploring Gordon Brown's experience and the need for higher economic growth to tackle low growth rates and high public debt.
29:42
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Quick takeaways
- Keeping the bond market on side is crucial for both parties in order to avoid the fate of Liz Truss and her unfunded tax cuts.
- Kia Starmur's speech emphasized voter apathy and the need for change, while hinting at potential tax-cutting measures targeting working people in Labour's election campaign.
Deep dives
Lessons from Liz Truss's Tenure as Prime Minister
The podcast discusses the short tenure of Liz Truss as Prime Minister and the impact of the markets on her government. Truss faced criticism for her unfunded tax cuts, which led to a significant decline in the value of UK stocks and bonds. The episode highlights the importance of keeping the financial markets on side and the need for a credible fiscal plan. It also explores the challenges faced by the next Prime Minister, including the need to address the country's economic growth, inflation, and fiscal constraints.
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