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Market outlooks · Opinion

Unraveling the UK budget dilemma

This week, the UK Chancellor of the Exchequer will present the UK's new budget. Since the September 2022 debacle, when Liz Truss and Kwasi Kwarteng's bizarre tax plan almost brought the UK's pension and insurance system to the brink of collapse, the extra attention has been justified. In the end, the Bank of England had to intervene to "save the furniture", as the Belgians say. This earned Liz Truss the dubious honour of the shortest-serving prime minister.

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