British Prime Minister Liz Truss on Tuesday appointed her close ally Kwasi Kwarteng, who until now was business minister, as finance minister and will be at the forefront of the serious economic and social crisis hitting the UK.
The son of Ghanaian immigrants who came to the UK in the 1960s, the new Chancellor of the Exchequer, 47, is the first black to hold this post and is considered a pure liberal on economics, an apostle of tax low and market. economy.
Following the economic ideas of Liz Truss
In this sense, her nomination is not a big surprise since Liz Truss never hid her deeply liberal economic convictions during the campaign. Often compared to the illustrious Margaret Thatcher for two months, the former foreign minister has proposed a number of bold measures to fully unleash the country’s economic potential by encouraging start-ups.
Among these measures, a drastic reduction in taxes worth 30,000 million pounds stands out, with special attention to corporate tax, of which the planned increase from 19% to 25% by 2023 is to be annulled. If it could be opened up to aid for households, wants, however, to significantly reduce public spending.
shots to fix
On the other hand, his economic program has some shortcomings and provides few actions to curb the energy crisis and reduce household and business bills, with the exception of a vaguely mentioned emergency budget. Unlike her opponent Rishi Sunak, Liz Truss has not inherited fighting inflation as her top priority when it could top 20% by early 2023.
Finally, the parallelism with the Iron Lady seems all the more credible since the new Prime Minister has already announced that she will join the trade union forces whose protest movements have multiplied throughout the country since this summer. As such, she is considering a law that would impose more minimum service obligations in the event of a strike.
Source: BFM TV
