Britain looks ripe for a change

British Treasury Secretary Kwasi Kwarteng, Prime Minister Liz Truss

Plans to cut taxes on top earners have failed miserably.


(Photo: Reuters)

London In recent history one will hardly find an example of a political change similar to the one British Prime Minister Liz Truss has now had to carry out. It took exactly ten days for political and economic gravity to bring back the tax fantasies of economically liberal fanatics with a thud on the parched soil of British reality, which had been parched by high inflation and stagnant growth.

It took Truss and his finance minister, Kwasi Kwarteng, more than a week to realize that cutting the top tax rate for top earners amid the country’s worst economic crisis in 50 years would be economically absurd and politically suicidal. This not only raises questions about his impeachment. The prime minister and her prime minister, both in office for just a month, are already so politically distraught that there are calls within her Conservative party for her to step down.

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Regina Anderson

"Extreme gamer. Food geek. Internet buff. Alcohol expert. Passionate music specialist. Beeraholic. Incurable coffee fan."

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