What’s Hot: Chaos hits UK markets

On September 23 rd , Britain’s new chancellor Kwasi Kwarteng unveiled a new fiscal statement. The stated aim of the policy was to generate growth and control inflation. Among the key components was a plan to spend £60bn in the six months from October to reduce household energy bills. This was accompanied by both income and corporation tax cuts. To fund the fiscal gap created by these two moves, the government will need to borrow an additional £70bn by the end of the year and more in the year to come.