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Re: New UK chancellor to junk changes

By: Cactus Flower in ALEA | Recommend this post (0)
Mon, 17 Oct 22 1:25 PM | 32 view(s)
Boardmark this board | The Trust Matrix 		Msg. 47507 of 54959
(This msg. is a reply to 47506 by clo2)
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It's a shame for her that she doesn't seem to have any supporters. The Paul Ryan part of the party wanted the budget she gave them, but she abandoned it (and them) because the markets hated it. And the part of the party that is more financially traditional (balance your books etc) never wanted her in the first place and isn't going to back her now. So she's basically on her own, with whatever support her chancellor provides.

If it stays like this, she's toast. But we'll see if she can cobble something together.

Whatever the chancellor of the exchequer says means almost nothing unless she survives. He'll go when she does, I expect. But the path of continuity seems to have slowed market gyrations some.

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Re: New UK chancellor to junk changes
By: clo2 in ALEA
Mon, 17 Oct 22 12:54 PM 		Msg. 47506 of 54959

Is she a lame duck?

The New York Times

BREAKING NEWS

Britain's finance minister will reverse nearly all of Prime Minister Liz Truss’s planned tax cuts, moving to calm markets and ease political pressure.
Monday, October 17, 2022 6:48 AM ET

Jeremy Hunt, the new chancellor of the Exchequer, also announced that the government would end its massive state intervention to cap energy prices next April, replacing it with a still-undefined program.

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