By Jochi Vicente On September 6, 2022, Liz Truss took over as Prime Minister of the United Kingdom. Just 17 days later, her government announced a tax package, better known as the “mini-budget”, which included major tax cuts without an equivalent reduction in spending. Market reaction was ruthless. Bondholders interpreted the plan as a threat to the sustainability of British debt. And there something very similar to the concept of “sudden stop”,…
This story is only covered by news sources that have yet to be evaluated by the independent media monitoring agencies we use to assess the quality and reliability of news outlets on our platform. Learn more here.
By Jochi Vicente On September 6, 2022, Liz Truss took over as Prime Minister of the United Kingdom. Just 17 days later, her government announced a tax package, better known as the “mini-budget”, which included major tax cuts without an equivalent reduction in spending. Market reaction was ruthless. Bondholders interpreted the plan as a threat to the sustainability of British debt. And there something very similar to the concept of “sudden stop”,…