Boardroom Talk: London’s smart money hates new PM’s “naive and wishful thinking” Trussonomics

Some crazy stuff is happening in the UK right now. Enough to nudge RW Johnson away from local issues for a while and pen his superb analysis of the Tory party under Liz Truss, an obvious Margaret Thatcher wanna-be. His assessment is on Politicsweb – here's the link: https://www.politicsweb.co.za/opinion/the-tories-from-decline-to-collapse.

Whatever their likely variances on execution, where new British PM and Maggie are similar is self-confidence in their ideas. Despite last Friday's announcement causing an almost 5% drop in the UK's 'share price' (taking the pound down 20% against the Dollar for 2022), Ms Truss was back on the hustings yesterday, defending her proposed £45bn in unfunded tax cuts.  

In interviews with local BBC stations aired yesterday – an interesting diversion from using the national platform – she vowed to stick with her plan, breaking her silence since Friday's controversial announcement. But as the interview started, so did a renewed selloff in the Pound, a thumbs down from London's establishment on Trussonomics which former US Treasury secretary Larry Summers branded "naïve and wishful thinking."  

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