Article 64192 Forget trickle down, what the UK needs is middle-out economics

Forget trickle down, what the UK needs is middle-out economics

by
Eric Beinhocker and Nick Hanauer
from on (#64192)

Liz Truss is banking on a failed policy. The focus should be on the real driving force behind economic growth

As millions of British families struggle to pay the costs of food, fuel and rent, Liz Truss and her chancellor, Kwasi Kwarteng, have unveiled their economic plan: cut taxes for corporations and rich people.

The policies announced in the mini-budget - reversing planned rises in corporation tax and national insurance, cutting stamp duty, scrapping the top income tax rate - will put millions of pounds into the pockets of the wealthiest people, not to mention bankers, who will have the cap on their bonuses removed.

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