The United Kingdom’s Currency Crisis w/ Murat Üngör: September 28, 2022
The United Kingdom’s Currency Crisis w/ Murat Üngör: September 28, 2022The United Kingdom’s Currency Crisis w/ Murat Üngör: September 28, 2022
Wednesday, September 28, 2022
The new UK government has only been in power for less a month, yet has already found itself in economic and political turmoil following the release of a package of tax cuts and borrowing.
Newly appointed Chancellor of the Exchequer, Kwasi Kwarteng, released his ‘mini-budget’ last week, prompting a sharp devaluation of the Great British Pound against the greenback.
The International Monetary Fund today took aim at the package, warning that "large and untargeted fiscal packages" would likely increase inequality in Britain and could undermine monetary policy.
To get more on the currency crisis, as well as how it may impact us in Aotearoa, Emilia spoke to Murat Üngör from the University of Otago.