John Healey hit with devastating resignation days before Budget as advisor warns of 'Liz Truss-style crisis'
'How do you go bankrupt? First slowly, then very quickly,' former Bank of England economist Andy Haldane said
TL;DR
- Entrepreneurship advisor Alex Depledge resigned from the Treasury, criticizing Labour's lack of support for innovative businesses.
- Depledge warned the UK has 18 months to change its stance on technology or risk being left behind.
- She described ministers treating businesses as a "sideshow" and having an outdated focus on traditional manufacturing.
- Former Bank of England chief economist Andy Haldane cautioned against a "Liz Truss-style" market meltdown.
- Haldane urged the government to cut public spending and taxes, warning of a "mañana budget" that postpones urgent decisions.
- He cited the fiscal crises in Greece, Italy, Portugal, and Spain as cautionary examples.