President Trump has just posted on his Truth Social, warning that he is “strongly considering large scale” sanctions and tariffs on Russia until a cease fire and a peace agreement is reached. He points to Russia “pounding” Ukraine right now:
Zelensky is set to go to Saudi Arabia next week for peace talks. This might move things along…
Andy Haldane, Burnham’s recent adviser on the economy who has not taken up a No10 job, told Andrew Marr on LBC:
“The market now suspects that this is a traditional tax-and-spend socialist government with better TikTok videos…
imposing windfall taxes on oil & gas or on banks or upping capital gains tax would […] repeat the mistake that Rachel made […] The Achilles heel, the fiscal Achilles heel of this government thus far has been its unwillingness and/or inability to cut public spending.”
