Truss/Kwarteng: A Reckless Economic Gamble Certain to Fail

Liz Truss and her Chancellor Kwasi Kwarteng have told us that their priority is to grow the economy. They plan to do this by borrowing huge amounts of money whilst cutting taxes which will inevitably benefit the rich more than those in desperate need. This is in addition to the £130 billion which they are borrowing in order to protect the profits of energy companies as they reduce the prices charged to consumers.

Inflation is at the highest it has been for several decades, interest rates are going up and individuals and businesses are being squeezed ever more. The NHS is in crisis with around 6 million waiting for treatment.

More and more families are depending upon food banks as they face an approaching winter when many of them will be unable to afford to heat their homes.

To reduce taxes thus benefitting the rich at a time of such crisis is a reckless and stupid gamble which will not work.

Opposition to the government is increasing and will only be inflamed by this absurd government policy.

It seems highly likely that this will lead to social unrest and a breakdown of law and order in the coming months