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Jul 5, 2024Anatole Kaletsky explains why the biggest electoral upheaval in UK history will have limited economic and political effects.
The Global Echoes of a British Near-CollapseCarl Court/Getty Images
The Global Echoes of a British Near-Collapse
Oct 11, 2022Anatole Kaletsky identifies four features of the UK’s new economic policy that other countries may end up considering.
Will Truss Rehabilitate Keynes?Leon Neal/Getty Images
Will Truss Rehabilitate Keynes?
Sep 6, 2022Anatole Kaletsky cautions against dismissing the incoming British prime minister’s radically unorthodox economic-policy agenda.
Why Are Financial Markets So Complacent?Spencer Platt/Getty Images
Why Are Financial Markets So Complacent?
Aug 1, 2022Anatole Kaletsky thinks investors’ current overconfidence about the global economy’s prospects reflects four cognitive biases.
An Interview with Anatole KaletskyAngela Weiss/AFP via Getty Images
An Interview with Anatole Kaletsky
Jan 19, 2021Anatole Kaletsky highlights three reasons Joe Biden could govern effectively, offers a bleak outlook for post-Brexit Britain, and identifies
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Anatole Kaletsky: Trussonomics might just work
Liz Truss may have only been Tory party leader for under an hour, but her economic programme has been declared as good as dead. On the Left, she has been criticised of ‘fantasy economics’ that fail to help the poorest cope by focusing relief on the richest, while on the Right, sound-money fiscal conservatives have lined up to criticise the new PM of being irresponsibly profligate, with her plans to borrow for tax cuts during an inflation spike. Even her supporters admit that her plans could ‘create havoc’ for the UK.
So where does this leave our soon-to-be PM? Without so much as a cabinet appointed, it would appear that her agenda, which includes cancelling the national insurance rise, removing a planned increase in corporation tax and scrapping green levies, is only popular with the Right-wing of the Tory grassroots.
Step forward, Anatole Kaletsky. The veteran economist and commentator, ex Times, Financial Times and Economist, writes for his research company Gavekal that Trussonomics just might work. Although at pains to emphasise that he personally thinks it is more likely to fail, he concedes that we are in unconventional times and that the Truss’ Keynesian experiment with fiscal expansion and monetary contracti