The president of the United States considered “a mistake” the decision of the United Kingdom to abandon the tax reduction plan, in an unusual criticism of the domestic policy of one of the closest allies.
“I wasn’t the only one who thought it was a mistake,” he told reporters during a stop in Oregon to promote Democratic gubernatorial candidate Tina Kotek as Democrats face criticism from the GOP over economic policy.
“I don’t agree with the policy, but that’s up to the UK,” he said.
For Joe Biden, “it was predictable” that the new British Prime Minister, Liz Truss, would be forced to abandon plans for aggressive tax cuts, without identifying cost savings, with a proposal that caused a stir in global financial markets.
On the other hand, the US president said he was concerned about the possibility that the fiscal policies of other countries could harm the US in the context of “global inflation”.
Biden said he was not worried about the strength of the dollar, which in recent weeks has set a new record against the British pound. The position of the US currency benefits imports, but makes the country’s exports more expensive for the rest of the world.
“I’m worried about the rest of the world,” he said.
“The problem is the lack of economic growth and sound policy in other countries,” the US president said.
Source: TSF
