Free Republic

Prime Minister Liz Truss has been on a media tour defending her tax-cutting ‘mini-budget’ amid fierce criticism from the left and central bankers. Truss, who is attempting to boost growth by, among other things, cutting green levies and, controversially, the top 45 per cent rate of income tax for earnings over £150,000 — rather than the 40 per cent rate of income tax on earning from £50,000 to £150,000, which impacts mainly on the squeezed middle class — has been accused of “undercutting” the country’s central bank, which is largely unaccountable to the government, by Mark Carney, its former governor.

What Carney ultimately wants is a technocratic dictatorship justified by climate alarmism...In his book Value(s): Building a Better World for All, Mark Carney, former governor both of the Bank of Canada and the Bank of England, claims that western society is morally rotten, and that it has been corrupted by capitalism, which has brought about a “climate emergency” that threatens life on earth. This, he claims, requires rigid controls on personal freedom, industry and corporate funding.

What Carney ultimately wants is a technocratic dictatorship justified by climate alarmism In his book Value(s): Building a Better World for All, Mark Carney, former governor both of the Bank of Canada and the Bank of England, claims that western society is morally rotten, and that it has been corrupted by capitalism, which has brought about a “climate emergency” that threatens life on earth. This, he claims, requires rigid controls on personal freedom, industry and corporate funding. Carney’s views are important because he is UN Special Envoy on Climate Action and Finance. He is also an adviser both to British...

Mark Carney will try to devalue the pound by as much as 15 percent after he takes over as Bank of England Governor in July in a last ditch attempt to cement the UK recovery, PIMCO, the world’s largest bond house, has warned. Growth in Britain is going to remain “challenged” for the next three to five years as the Government continues to shrink the public sector and cut the budget deficit. As banks and households also grapple with their excessive debts, “that leaves one policy tool outstanding, which is basically the currency”, PIMCO managing director and sterling bond head...