Pound drops to ALL-TIME low of $1.035 against the US dollar: Sterling plunges as Kwasi Kwarteng’s ‘mini-Budget’ of tax cuts and more borrowing rattles markets
Pound drops to ALL-TIME low of $1.035 against the US dollar: Sterling plunges as Kwasi Kwarteng’s ‘mini-Budget’ of tax cuts and more borrowing rattles markets
9 comments
The pound has been in free fall since 01:00 today, before the UK markets even open…
Has to be corruption and insider trading, no other explanation.
I hope I will wake up this morning to some sackings or resignations from our government, but knowing them they will double down on their stupid decisions for sure.
If I never see a conservative government again I can die peacefully.
Don’t worry folks. After Brexit, the UK can now become a high growth, high wage economy. That’s why Kwarteng is cutting taxes. He’s doing it for the benefit of the whole country. I know this because Rees Mogg has said as much.
The problem isn’t that the UK budget was inflationary, its that it was moronic. And a small open economy that seems to be run by morons gets a wider risk premium on its assets – currency down, yields up
I’m still struggling to fathom how successive Tory governments have made increasingly stupid decisions. The country is simply fucked what can any future government do to get us back to a reputable standing? Not sure how we come back from this.
Rejoining the EU would be a start, that is never going to happen.
Lizz truss needs to take a page from boris and do a UTurn on these crazy tax cuts
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