Pic of the Day | Mini-budget can't hold humongous ambitions
As one of the decisive forces in redistributing productive resources, the government should "rob the wealthy to relieve the indigent" by taxing the rich more for the country's infrastructure, welfare protection, and subsidies for the poor to ensure social development.
But Liz Truss's mini-budget has gone the opposite way. The budget includes the abolition of the plan to increase the corporate tax to 25%, the tax rate for individuals earning more than £150,000 a year from 45% to 40%, and a significant reduction in the home purchase tax.
This "magnificent plan" has confused the financial markets. It is reported that the revitalization program launched less than a month after Truss took office is also unpopularity even within the Conservative Party.
It's mind-boggling that while tens of millions of Britons face soaring energy bills and high living costs, the government is busy planning to cut tax rates for top earners and lift the cap on bankers' bonuses.
A portion of that budget has now been withdrawn.