The UK's productivity problem
And just like that, the Liz Truss era is over. The former prime minister's 44-day reign will go down as an economic fiasco. Her ill-fated budget proposal earlier this month sent the British economy into a tailspin and triggered the largest selloff in recent history among UK bond investors. To pundits' delight, she was outlasted by a piece of supermarket produce.
But the real economic story here isn't just about short-term budget schemes or inflation-targeted tax reforms. It's also about macro-scale inflation, slowing productivity and the broad economic currents that made it so hard for Truss to maintain political power.
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