Is Britain’s Labour Party Facing a Liz Truss Moment?
January 12, 2025
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1:09Now PlayingIs Britain’s Labour Party Facing a Liz Truss Moment?
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as posted by the channelA rout in UK bonds has evoked memories of the market crisis during Liz Truss’s calamitous premiership and raised questions over Chancellor of the Exchequer Rachel Reeves’ budget plans.
Economists are warning the Labour government may need to raise taxes or cut spending as a jump in borrowing costs will leave the government with less spare cash to boost investment and fulfill its 2024 election promises.
The crisis in 2022 effectively ended the Truss government, and Labour will be concerned about the market jitters and a worsening economic growth outlook.
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