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Wow. A politician doing what they promised.
In the UK, budgets are enacted overnight – no long parliamentary cycles, etc. So, for example, the tax on petrol (gas at the pump) is announced and enacted in a matter of hours.
This is slowed down by the added processes by the Deep State: reviews and recommendations by the permanent civil service.
Liz Truss and her Chancellor, Kwarteng, just did the biggest set of changes in UK governance that have happened since (at least) 1972! And they are all deeply good:
1: Removed the fracking ban — encouraging fracking, more drilling, etc.
2: Remove ALL legacy-Euro regulations. The UK civil service will replace many of them, but it is a huge step nevertheless.
3: Abolish top (45%) tax bracket. Drop income tax to 19%. Reduce National Insurance. Cut Stamp Duty (the tax on real estate transfers). Kept corporate top tax rate at 19%, the lowest in the G20, I understand (this reversed a planned big jump).
WOW!!!! I am delighted and thrilled. They have two years to prove it works before the next election…. go, Liz!!!Published in