Saturday, December 10, 2022

Britain and the tax triangle of doom

Britain and the tax triangle of doom

declaration of a UK tax cuts Armageddon is opened. There is a sinister triangle between the existing interrelationships in the economic world that is anything but love. It’s about the trine that makes Fiscal Policy, Inflation and Monetary Policy, And it is more relevant today than ever with Liz Truss’s economic policy. It turns out that if taxes are lowered in high inflation conditions, like the current one, the result blows the pressurized wind into a great bonfire of rising prices. Any independent central bank would react with a fixed rate hike to prevent inflation from rising higher and higher. And in that tussle between lousy right-wing vademecans, who have always advocated for lowering taxes and the current rise in prices due to the war in Ukraine, the way out of the book is to raise rates. And in this tug of war, the consequences are the citizens. The crisis of the 1920s, this time in this century, appears to be deeper than expected. It’s still hard to know which recipe is right for government madness liz truss Or those who want to reduce taxes have less impact than feared. It is not clear what this triangle will be, whether it is an ambigonium, acute, isosceles, or scalene. In addition to the frivolity of baptism, governments require technicians to evaluate the consequences of responsible decisions. The Truss executive has not disclosed the results of the tax cuts as it is expected to. That’s the scariest thing about it. And in the rest of Europe too, the specter of the more narrow-minded right wing reappears. Tax cuts in times of high inflation and war. populism. European follow-up to increase rates in the US. These are times of change and the old Europe must find new ways to strengthen the welfare state.

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