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Because last time the Conservative party members had a vote and Liz Truss stood on a platform intended to appeal primarily to them. The reason she had to depart
by r_hoods_ghost 4y ago
Because last time the Conservative party members had a vote and Liz Truss stood on a platform intended to appeal primarily to them. The reason she had to depart was because it tuens out she actually believed what she was saying and attempted to implement policies that were widely regarded by the markets and everyone else as, well, utterly batshit.
- mytailorisrich 4y agoReducing the basic rate: Labour had said they would support and Sunak said that it was his plan for 2024. Cancelling the increase in National Insurance: Well, Hunt has said this will remain cancelled. Cancelling the increase in corporation tax: Welcomed by economists and businesses. Increase is predicted to make recession worse. Reducing the additional rate: Definitely not the right time, but note that this rate has only existed for 10 years. So it is not that the policies are "widely regarded as utterly batshit". Individually they are not. But they were announced all at once without any hints of funding and that's what spooked the markets (more debts and fuel for inflation when the situation on both fronts is already bad).