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The New Daily

Michael Pascoe

Michael Pascoe: RIP trickle-down economics – even the financial markets have given up

Kwasi Kwarteng Liz Truss Economics Anthony Barber Reaganomics Tax Cuts Bank of England Conservative Party Economist

UK Prime Minister Liz Truss has just delivered the biggest tax cuts in 50 years. Photo: TND

One of the more enlightening performances of our immediate-past treasurer was his declaration of admiration for Thatcherism and Reaganomics.

Now employed by investment bank Goldman Sachs (aka the “vampire squid”), I trust he’s coming to terms with even the global financial markets pointedly rejecting his preferred philosophy.

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