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The madness of TRUSSONOMICS

The madness of TRUSSONOMICS

Released Wednesday, 4th October 2023
Good episode? Give it some love!
The madness of TRUSSONOMICS

The madness of TRUSSONOMICS

The madness of TRUSSONOMICS

The madness of TRUSSONOMICS

Wednesday, 4th October 2023
Good episode? Give it some love!
Rate Episode

Is doubling down on neoliberal policies likely to generate an economic recovery?

Is growth still what we should be striving towards, given the climate and biodiversity crisis?

Is a progressive government in the UK a thing of the past?



Q: Now the curtains are drawn back, we can now see what Trussonomics really is! Would you like to give us your take on what Trussonomics is?


Q: Will Truss be remembered similarly to Trump? Her only significant legislative success was a massive tax cut for corporations and high-income earners.


Q: Earlier this week you said that you expected that the budget may increase growth. Can you explain how that could happen and if, not that you have seen the budget, do you believe that this will still be the case?


Q: £45 billion of tax cuts is the biggest tax-cutting budget since 1972 and Barber's "dash for growth" How did that work out? And can we expect a different outcome?


Q: Progressive tax policies - where the average tax burden increases with income - have been the mainstay of even right of centre governments since the 1950s. Did this end on Friday?


Q: Government money flushed into everyone’s pocket during the pandemic. Is this just the wealthiest in society making sure they get their increased share of that public money?


Q: MMT has shown that taxes do not pay for spending. I believe this understanding has allowed this type of budget to happen. Is it typical that the right jumps on a powerful truth before the left?


Q: The budget took place in an era of a rapidly overheating climate leading to the very real potential of societal collapse. In what way did the budget address those issues globally, nationally, and locally?


Q: There are already calls for the Scottish government to mirror the personal income tax cuts in Scotland. Could you explain the different fiscal position of the Scottish Government as a currency user that uses tax to fund expenditure and the UK Government as a currency user that does not fund expenditure with taxes?


Q: The pound fell today making imports more expensive and proving the impetus for more inflation. Can you why this happened and if you think this is likely to continue?


Q: Josh Ryan-Collins, Associate Professor in Economics & Finance at UCL, said today: “When you have high inflation, it is sensible to raise taxes on those who can most afford it to cool the economy.” Do you agree? Is this what happened on Friday? And what will these policies do for inflation?


Q: What do you see as the main structural issues for the UK economy? And how do we solve them?


Q: When you see how out of step a budget like this is with a progressive view, does the perspective of independence supporters in Scotland become clearer or sounder in judgment to you?


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