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It Takes A Labour Chancellor To Really Crash The Economy......
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You aint seen nothing yet.
The other big difference is Truss' was engineered to bring her down so the "crash" was a bounce as Traders cashed in. It recovered.
The damage Thieves is about to inflict on the Country is likely to damage it beyond repair. A significant number of high wealth people have already left, i/e/ those who pay a significant proportion of the Net tax bill. Someone will have to pick up the tab.
This is what happens though if you let 6th Form politics rule the roost.
Indeed.
Ms Truss never actually did anything. She only said what she planned to do. She was brought down by the City spivs who saw the opportunity for a quick buck.
As the article says, 10 year gilts are now trading at a higher level than he brief period after the Truss tenure. Much of the budget has been railed and so its likelt effects already baked in. But there will still be one or two stings in the tail. On top of that, as soon as it is realised that the proposed tax/NI increases do not raise the revenue they were expected to (they never do but Labour seems unable to grasp this simple fact) we can look forward to seeing gilts, inflation and interest rates remain high for the foreseeable future.
"Can you point me in the right direction of a list of ALL the wealthy people that have already left. Youngmafbog"
Charlie Mullins is upping sticks and he won't be alone:
https:/
The Henley Private Wealth Migration Report indicates that Britain will experience a net loss of 9,500 high-net-worth individuals in 2024 — more than double last year’s figure of 4,200 (which in itself was a record-high figure).
https:/
They haven't been named (and nor they should be unless they consent as Mr Mullins has), but the trend in plain to see.
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