Pound falls further after Bank of England's emergency move - BBC News

This is an exceptionally blunt warning from the IMF, indicating that Chancellor Kwasi Kwarteng's £45bn mini-budget spree may not only have been ill-judged and risks sharper interest rate rises, but could also increase income inequality.The Truss government's growth plan centres on tax cuts for the better off, in the hope it will benefit wider society by boosting investment, innovation and job creation.

But a 2020 study by academics at the London School of Economics examined the impact of such policies in wealthy countries over five decades - and found they failed to significantly boost growth or jobs. They were more likely, the study claimed, to widen the gap between rich and poor. At the very start of the Conservative leadership campaign, a top IMF official told me large-scale universal tax cuts in the UK would be a"mistake" .

Instead, as the energy price crisis has intensified, it's been calling for measures that are targeted towards the least well-off. And it's openly urging the government to focus on that when the chancellor reveals the next instalment of his plans in November.

FisherAndrew79 Absolute bullsht. Radical my arse. The centrist lack of radical always lets the far right in through the back door (Sweden, US, UK, Italy, France etc). This Labour leadership has 'pulled socialism up by its roots in the Labour Party. Why aren't you covering the LabourFiles

FisherAndrew79 As a fearless investigative journalists who abhor racism, you should see this shocking new doc on Aljezzerra that exposes Keir Starmer’s Labour’s racism & how they manufactured countless antisemitism smears! LabourFiles

JoeOTooIe FisherAndrew79 the centre ground is always fluid, but actually doesn't shift far. It's the equivalent of liquefaction, i.e. somewhere you don't want to be. So political parties need to win over the centre ground whilst actually not being there themselves.

FisherAndrew79 Yeah, bread and butter issues. it is your trashy, degenerate feral positions they reject...

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Chief Bank of England economist signals there will be a significant interest rate rise to comePill, who sits on the Monetary Policy Committee (MPC), which sets interest rates, said: “It is hard not to draw the conclusion that all this will require a significant monetary policy response'
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Treacherous path ahead for Bank of England and markets\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT. At least if you were with the EU you could develop a plan on how to tackle major debt issues, the single market working together would reduce risk It's also short vs long term resolve here, the issue is avoiding radicals coming to power Do you want to invest in Ghana, Africa? Look no further than here. We provide the best real estate you can ever imagine
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Bank of England Says It Won't Hesitate to Hike Rates After Pound Falls to Historic LowThe Bank of England on Monday said it is monitoring financial market developments 'very closely' after a dramatic morning of market turmoil saw the British pound fall to an all-time low against the U.S. dollar.
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