Britain is “channeling” Margaret Thatcher and Ronald Reagan with tax cuts and deregulation for high-income earners, says Shane Oliver, chief economist at AMP Capital.
“The problem is that in the long term it will be profitable, but in the short term the UK economy, like the Australian economy, doesn’t have enough headroom,” Oliver told Sky News Australia.
“The market is clearly worried that this will simply cause inflation, accelerating inflation in the UK and increasing pressure on the Bank of England.
“At the same time, I think the investment market is concerned that the level of public debt in the UK is rising and is still rising rapidly.”
Britain ‘channels Thatcher and Reagan’ with tax cuts, deregulation
Source link Britain ‘channels Thatcher and Reagan’ with tax cuts, deregulation