Labour’s budget has given the bond market indigestion
But this is not a repeat of the Liz Truss debacle
If there is one moment of Tory excess that the Labour Party has long sought to define itself against, it is Liz Truss’s market-shaking mini-budget in 2022. “Never again”, Rachel Reeves said solemnly in 2023, “will we allow a repeat of the devastation Liz Truss and the Tory party have inflicted on family finances.” Which is why the bond market’s sharp response to Ms Reeves’s first budget as chancellor, which she delivered on October 30th, is particularly tricky.
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This article appeared in the Britain section of the print edition under the headline “Gilt vigilantes”
Britain November 9th 2024
- Two groups are least happy about Labour’s budget
- Labour’s budget has given the bond market indigestion
- Kemi Badenoch, the Tories’ new leader, plans war on the “blob”
- Higher fees won’t help Britain’s beleaguered universities much
- The Labour government picks up a bad Tory habit
- What does it mean to wear a poppy today?
- Farmer fight: Jeremy Clarkson versus Roald Dahl
From the November 9th 2024 edition
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