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  1. Home

Pound Sinks As Markets React to UK's Mini-Budget

  • #Japan
  • #Marketing & sales
  • #Retail
  • #Economic conditions & trends
  • #Prices
  • #Finance
story
SEP 2022
Image copyright: EPA-Shutterstock [via The Telegraph]
story last updated SEP 2022

The Spin

Right narrative

This is a bold and thoroughly conservative economic strategy from the Tories for the first time in years. Truss is in a race against time, facing the prospect of an election in two years and an impending recession. The conservatives are finally reprioritizing boosting growth and shrinking the state.

Spectator (UK)

Left narrative

The Tories are gambling with the nation's finances with a set of drastic tax cuts that senior economists have said are unlikely to significantly boost GDP. The Bank of England has signaled that the UK is already in recession and now Truss's policies will cause further pain by adding to inflationary pressures.

New Statesman

Metaculus Prediction


Political split

LEFT

RIGHT

Britain’s lowest-paid workers say finances have never been worse
GuardianJUL 2022
Pound falls as weak retail sales raise fears UK economy is in recession
GuardianJUL 2022
World Bank warns higher interest rates could trigger global recession
GuardianJUL 2022
Why is the pound plunging on 30th anniversary of Black Wednesday?
GuardianJUL 2022
Truss and Kwarteng in fresh push to persuade SoftBank to list Arm in UK
GuardianJUL 2022
Pound sinks to new 37-year low as inflation soars
IndependentJUL 2022
Pound dips to 37-year low on 30th anniversary of Black Wednesday
Daily MailJUL 2022

More neutral political stance articles

British pound sinks to 37-year low against the dollar as retail sales crater, fueling fears about a UK recession
Business InsiderJUL 2022
Pound crashes to 37-year low
RTJUL 2022