Discover and read the best of Twitter Threads about #thegrowthplan
Most recents (3)
The unwinding of @budget2020 continues. The situation demands the whole package to go, not just bits here & there. The creeping U-turn just encourages MPs & others to demand more. And it is unlikely that the markets will respond well to the uncertainty created by slow change.
Will the reversal of the Corporation Tax reduction effect growth? This question is difficult to answer because it involves comparing anticipation in 3 periods, before @budget2022, up until now, & after the reversion.
However, what stands out is the volatility of policymaking, which damages govt credibility & is likely to lower expectations for investment and lower economic growth.
Conference ends. Truss at a twisted podium paints #TheGrowthPlan in more, unconvincing detail. @Conservatives turned into a pale, English version of MAGA neocon extremism. First they were infiltrated by the Brexit Party, now they’ve been taken over by UK followers of a US elite.
It’s as if the UK economy were a plaything for a right-wing experiment, enacting tax cuts and deregulation, attacking the woke, politics as entertainment. They don’t need any data or economic expertise. They know it all. Disrupt and hope for the best. #PostTruthEconomics
The UK establishment has been systematically undermined and damaged by these neocons grabbing the levers of power. Whitehall mandarins sacked, mocked, or broken. Lickspittles promoted as negotiators. The unwritten constitution tested and twisted to malign ends. Brexit. Clowning.
Unbelievable cod economics being spouted by Truss and Minister Paul Scully. This is boned-up #PostTruthEconomics. Scrap economic orthodoxy, he is saying, and disrupt (what? the economy? society? the woke, whoever they are?) Ah, it’s the EU regulations to be scrapped. 😡
Minister Scully is giving the justification for #TheGrowthPlan on @BBCRadio4 World at One. Mainly spin, clearly a qualification for the job. He’s good, smooth, well-spoken as mum would say. “A different strand of Conservatism” he says. 😂Neoconservatism, I say. Smooth as treacle.
So what are the economics of the half-baked plan enacted in #budget2022 & explained by sloganeering Truss & smooth Scully? Radical policies are necessary to respond to 1) events, eg energy price inflation & 2) the fact that the economic orthodoxy has failed. So far I agree 100%.
