ABC News (Australia) published this video item, entitled “Will the British Government avoid a financial calamity? | 7.30” – below is their description.
The new British Prime Minister Liz Truss was elected on the premise of calm, stable government after the dramas of Boris Johnson but her political honeymoon lasted as long as it took her and Chancellor Kwasi Kwarteng to produce a wildly unpopular mini-budget with unfunded tax cuts.
Markets collapsed, the pound dived, the Bank of England had to step in and by the weekend Truss’s colleagues were in open revolt. Martin Wolf is the chief economic commentator for the Financial Times and one of the most influential finance writers in the world.ABC News (Australia) YouTube Channel
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