Cantillon: Economic philosophy favoured by Liz Truss has ‘never worked’, tweeted Joe Biden ahead of bilateral meeting via IrishTimesBiz
Economic philosophy favoured by Liz Truss has ‘never worked’, tweeted Joe Biden ahead of bilateral meetingUK prime minister Liz Truss at the Empire State Building in New York during her visit to attend the 77th UN General Assembly.
Her bilateral meeting in New York with Biden — due to take place on Wednesday, having been postponed from Sunday in London — would instead focus on global security issues. Biden, for his part, was expected to have some things to say about the Northern Ireland protocol. Nevertheless, the Trussonomics philosophy — her version of the argument that low taxes and deregulation spur economic growth, so the rich shouldn’t be troubled by too much taxation at all — found a way to creep into her overnight address to the UN General Assembly, according to the preview offered by 10 Downing Street, with lines including a reference to her government’s desire for people “to keep more of the money they earn”.
Perhaps the two leaders also discussed Biden’s interestingly timed Tuesday tweet. “I am sick and tired of trickle-down economics. It has never worked,” wrote the Democrat, using the phrase long-associated with US Republican low-tax policies. “We’re building an economy from the bottom up and middle out.”
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