Liz Truss “completely crash in public finance” if she moved forward with dozens of billions of pounds of tax cuts, and senior economist warned.
Talking like Truss, the leader for leadership that ruled out cash grants for all households to help pay electricity bills, paul johnson, director of institute for Financial studies, blamed her of adoption of the “simplified mantra” of cutting taxes on solve in cost of life crisis. He said that the politics she discussed team were “very disturbing”.
He said Time that the proposal to lower the VAT was “inappropriate” and could lead to higher inflation rather than contain it. Johnson also Bank said of England will raise interest rates more quickly if Truss rushed forward with cuts.
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