Fox Business Said The UK had a “Terrific Economic Plan” and Compared It to the GOP’s. UK’s Inflation Rate is Nearly 2% Higher than U.S.
The U.K’s inflation rate is now 2% higher than the U.S. after implementing a disastrous conservative economic agenda which Fox Business compared to the GOP’s plan. As of September, the U.K.’s inflation rate was 10.1% vs the U.S. which reported 8.2%. The inflation rate in the U.S. is down 0.9% since its high in July and continues to fall.
When the U.K. welcomed their new Prime Minister, Conservative Lizz Truss, Larry Kudlow on Fox Business said “The new British prime minister, Liz Truss, has laid out a terrific supply-side economic growth plan which looks a lot like the basic thrust of Kevin McCarthy’s Commitment to America plan.”
“The U.S. midterm elections cavalry arrived early in London. What do I mean by that?” Kudlow says in the Fox Business clip. “Well, the new British prime minister, Liz Truss, has laid out a terrific supply-side economic growth plan which looks a lot like the basic thrust of Kevin McCarthy’s Commitment to America plan.”
More praise came from Kudlow as he talked about “slashing tax rates and deregulating energy.”
“I just love it,” Kudlow exclaimed and then said “liberal business media” was wrong in “trashing her plan.” Kudlow closes by saying “Truss has it exactly right.”
Truss of course had to step down 44 days later because of her huge failure.
The New York Times reported, the move “swept away a free-market fiscal agenda that had plunged the country into economic and political turmoil.” The pound’s standing had dropped precipitously. After the announcement of her resignation, the pound climbed slightly.
Larry Kudlow on Fox Business 9/23/22: "The new British prime minister, Liz Truss, has laid out a terrific supply-side economic growth plan which looks a lot like the basic thrust of Kevin McCarthy's Commitment to America plan.” pic.twitter.com/SlW349niNx
— MeidasTouch (@MeidasTouch) October 20, 2022
New York Times: U.K. Conservatives Scramble to Replace Lizz Truss
UK Office of National Statistics: Census and Inflation Data
U.S. Bureau of Labor Statistics: Monthly inflation data
Updated on Oct 28, 2022
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