Mini Autumn Budget 2022 – Commentary
Not so much of a mini-Budget but more a tornado of change
Not so much of a mini-Budget but more a tornado of change
In just 30 minutes, Kwasi Kwarteng delivered a financial statement that reversed years of socio-centric policy.
The changes will benefit the highest earners and business in a bold but untested bid to stimulate wide economic growth. In a world which has experienced unprecedented change over the last few years, this stance is a big gamble which will be unpopular with a lot of voters and could see the new Truss Government dethroned in the next election.
This Budget is a real departure to what has gone before. Middle class England, who have all too often in recent years taken the burden of fiscal changes, clearly benefit from the announcements. However, the real winners are investors, high earners, and growth creators. While this may provide a boost to the economy to some degree, it will drive a greater divide between the wealthy and poor at a time when with so much worldwide uncertainty we are more at risk of social unrest.
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