C_Clayton_Jones
Diamond Member
"Liz Truss has sacrificed her finance minister and closest political ally just weeks into her premiership in order to save her own skin.
On Friday morning, Britain’s Chancellor of the Exchequer, Kwasi Kwarteng, was summoned a day early back to London from the United States straight to Downing Street, where he was relieved of his duties.
The move came three weeks after Kwarteng announced a controversial mini-budget full of unfunded tax-cutting measures that sent financial markets into meltdown. At one point, the pound sank to its lowest level against the dollar in decades.
[…]
Kwarteng being gone, however, does not mean that Truss is out of the woods. The low-tax, free-market policies that Kwarteng announced were the exact ticket on which Truss ran to be prime minister.
The pair had written about their shared view of a low-tax, high-growth Britain in a book authored by a group of Conservatives as far back as 2012. Kwarteng and Truss were in lockstep in their vision for Britain; removing him from office is a tacit acceptance that her economic plan has failed."
www.cnn.com
Truss’ plan failed because conservative economic dogma is a comprehensive failure.
Yet conservatives on both sides of the Atlantic will continue to adhere blindly to failed conservative economic dogma.
On Friday morning, Britain’s Chancellor of the Exchequer, Kwasi Kwarteng, was summoned a day early back to London from the United States straight to Downing Street, where he was relieved of his duties.
The move came three weeks after Kwarteng announced a controversial mini-budget full of unfunded tax-cutting measures that sent financial markets into meltdown. At one point, the pound sank to its lowest level against the dollar in decades.
[…]
Kwarteng being gone, however, does not mean that Truss is out of the woods. The low-tax, free-market policies that Kwarteng announced were the exact ticket on which Truss ran to be prime minister.
The pair had written about their shared view of a low-tax, high-growth Britain in a book authored by a group of Conservatives as far back as 2012. Kwarteng and Truss were in lockstep in their vision for Britain; removing him from office is a tacit acceptance that her economic plan has failed."
Liz Truss is in big trouble after her biggest U-turn yet | CNN
Britain's Liz Truss has sacrificed her finance minister and closest political ally just weeks into her premiership in order to save her own skin, but the crisis is far from over.
www.cnn.com
Truss’ plan failed because conservative economic dogma is a comprehensive failure.
Yet conservatives on both sides of the Atlantic will continue to adhere blindly to failed conservative economic dogma.
