, Columnists
Is Sunak Going to Overcorrect Truss’s Fiscal Mistakes?
The new prime minister vows to restore stability, but there’s a risk he kills the growth promised by his predecessor.
Beware overcorrecting.
Photographer: STEFAN ROUSSEAU/AFPThis article is for subscribers only.
There’s a school of thought that says the mini-budget Liz Truss and Kwasi Kwarteng announced in September was a disaster not because Britain’s economy couldn’t handle tax-cutting or added borrowing, but because they failed to “roll the pitch,” or prepare markets for what was to follow. We’ll never know.
But in the short time since he’s been prime minister, Rishi Sunak is doing a lot of pitch-rolling — only it’s in the other direction.