Britain’s government is yet to deal with a mess of its own making

Kwasi Kwarteng and Liz Truss need to put their heads together to deal with the market turmoil they created. (Image: Getty)

The Economist

Sat, 15 Oct 2022

Britain’s prime minister came to office promising to fight “Treasury orthodoxy” and the department’s “abacus economics”. Yet barely a month later, financial markets are teaching Liz Truss and her government a lesson about the importance of sums adding up. Ever since Sept 23, when Kwasi Kwarteng, the chancellor of the exchequer, announced the biggest tax cuts in half a century with no hint of how he would pay for them, the markets have been in varying states of turmoil. The pound cratered at onc...

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