The new British prime minister Liz Truss has been rolled by colleagues unprepared to support a fiscally profligate, market-spooking, trickle-down package that would have abolished the 45% top rate of income tax. The United States looks to be heading for a recession.
In Australia, the Reserve Bank of Australia will likely lift interest rates again on Tuesday, which would be the sixth hike in as many months. Tuesday also marks three weeks until Australia’s treasurer Jim Chalmers hands down his first budget.
