To recap:
- Pound sterling down 350 pips to 1.0915 -- the worst since 1985
- UK 10-year gilt yields up 31 bps to 3.80% and having their 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 wealthy doesn't tend to win you nay friends when all the tax savings get crushed by falling investments and a currency in freefall.
