Pound jumps after UK reverses tax cuts – Michael West

UK’s Truss proves to be a Yo-Yo

Oil jumped as OPEC+ considered reducing output at its upcoming meeting while the pound swung higher after the UK government said it would reverse a controversial tax cut that had roiled British markets.

LNP’s Angus Taylor a senior Liberal’s reply:

No. This is not [due to come in] until 2024. We want to see growth. We can provide the services that Australians need. And so … we do want to see the tax cuts come through. They’re very different from the UK tax cuts.

We haven’t seen anything like the reaction from the markets that we saw in the UK. So I think drawing that analogy, which I know some in Labor are doing, I think, is very inappropriate. They are not the same thing.

Source: Pound jumps after UK reverses tax cuts – Michael West