Money Clinic podcast: the mini-budget’s maxi impact
The pound has fallen to an all-time low against the dollar this week © Financial Times Radical tax-cutting measures in the mini-budget have caused a maxi reaction in markets, with the pound falling to an all-time low against the dollar this week.
New chancellor Kwasi Kwarteng and prime minister Liz Truss are gambling that borrowing tens of billions to fund large tax cuts and cap soaring energy bills will boost economic growth, but there are already fears that inflation and interest rates could be pushed up even further.
Presenter Claer Barrett discusses what the new era of “Trussonomics” could mean for our personal finances with George Parker, the FT’s political editor, and Mary McDougall, the FT’s acting tax correspondent.
To listen, click on the player link above, or search for Money Clinic wherever you get your podcasts.
Money Clinic is keen to hear from listeners and readers. If you would like to get in touch, please email us at [email protected] or DM Claer on social media. She is @ClaerB on Twitter, Instagram and TikTok.
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Originally posted on: https://www.ft.com/content/786f0be0-2f96-4795-988d-7fe29f6e1634