United Kingdom struggling with weakening economy and currency … – Economic Times

The UK has been in the middle of one crisis after another. Since the Brexit, followed by COVID, and the change in leadership, the United Kingdom has been struggling with a weakening economy and currency. The factors leading to the turmoil 1) Inflation 5x Of Central Bank’s Target; Near 40-Year High, 2) Soaring energy prices caused additional burden 3) Additional Costs associated with Brexit 4) Debt on an unsustainable path 5) Public Net Debt At 96.6% Of GDP 6) Trade Gap Near All-Time High. On September 23, the British government, led by the new prime minister Liz Truss, announced sweeping tax cuts. So too, how did the UK get here, and what is the government doing? Vinnie Motiwala is here with a ready reckoner.
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