breaking news UK Chencellor Kwarteng: I think it’s a very good day for the UK

To sum up :

  • Sterling drops 350 pips to 1.0915 – worst since 1985
  • UK 10yr gilt drops 31bp to 3.80% and having worst week in ages
  • FTSE 100 down 2%

Kwarteng is going to get eaten alive with tone-deaf comments like these. Cutting taxes for the rich doesn’t tend to win you friends when all the tax savings are crushed by falling investments and a plummeting currency.

This article was written by Adam Button on


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