Radical tax cuts in the mini-budget have fueled a maximum reaction in the markets, with the pound dropping to an all-time low against the dollar this week.
New Chancellor Kwasi Kwarteng and Prime Minister Liz Truss are betting that borrowing tens of billions to fund major tax cuts and rising energy bills will boost economic growth, but fears are already circulating that inflation and interest rates could rise further.
Host Claer Barrett discusses what the new era of ‘Trussonomics’ could mean for our personal finances with George Parker, the FT’s political editor, and Mary McDougall, the FT’s acting tax correspondent.
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