Britain’s 39 days of Economic Chaos

It’s difficult to underestimate the economic chaos and damage Britain has seen since the election on September 5th of Liz Truss as Conservative Prime Minister. During the election, she campaigned to cut taxes, reverse the recent increase in national insurance, and cancel a scheduled rise in corporation tax. At a time when governments worldwide are grappling with rising inflation, slowing growth, and citizens worried about high energy bills, Britain’s new prime minister created an economic plan that alarmed financial markets. It drew the annoyance of Governments around the world, even members of her own political party, and damaged her political standing. This was the beginning of a turbulent 39 days, but what happened after is worth understanding.