Lesson (Un)Learned from Liz Truss
When the global financial system is so integrated and capitals flow so freely, the credibility of the national budget must be heavily safeguarded. There is no country that can escape punishment from a market that has lost confidence in it.
Yopie Hidayat
October 24, 2022
DO not play around with economic policies that go against market logic. Not only will it ruin the economy, the reckless leader in charge could also be ousted. That is the lesson from Liz Truss’ fall last week. Truss only managed to last 44 days as the Prime Minister of the United Kingdom. Her downfall was caused by her push for massive tax cuts totaling 45 billion pounds—around Rp780 trillion. With good intention, Truss was convinced
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