Kwasi Kwarteng hoped his “Growth Plan” announcement last September when he was chancellor would be remembered as a bold and imaginative programme to kick-start the UK’s economic potential.
Unfortunately, the now notorious “mini-budget” of unfunded tax cuts, without any independent oversight or medium-term economic forecasts, is better known for precipitating the “LDI (liability-driven investment) crisis”, which broke the 328-year-old UK government bond or gilts market.
