Today [Tuesday 11 October 2022], the Bank of England governor himself caused a market reaction by announcing that the support scheme for pension funds would wind up at the end of the week. This led to an immediate fall in the pound.
Ms. Truss wrote, in an excerpt published in The Mail On Sunday: The International Monetary Fund (IMF) has questioned whether the rich would benefit too much from the mini budget, surely a domestic question for the UK Government!
She said she was shocked and outstanded that a US president would comment on UK domestic policy. Elsewhere in the memoir, she defended her approach suggesting that the pro-Remain Treasury, Bank of England and Office for Budget Responsibility were barriers to our plans.
The top rate of income tax in the U.S. was 37 per cent and only charged to people earning the equivalent of $483,094 and above. By contrast, the top rate in the UK was 45 per cent and paid by those on more than $150,000.
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