UK: Pound Falls to Record Low Against US Dollar

Image copyright: Bloomberg [via telegraph]

The Spin

Left narrative

Chancellor Kwarteng and Prime Minister Liz Truss are recklessly gambling with the UK's finances. Their plans rely on trickle-down economics, a method which has been tried time and time again and repeatedly proved ineffective. The only thing these incompetent politicians will succeed in is making the rich richer and the poor poorer.

Right narrative

Kwarteng's tax cuts are part of a comprehensive and bold plan to revive the UK's stagnant economy. While it may seem like these programs will favor higher earners, the measures will stimulate the economy at large by incentivizing businesses to invest - something which will strengthen the nation's finances and help those at all income levels in the UK.

Metaculus Prediction


Political split

LEFT

RIGHT

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