British PM Liz Truss is turning into a hero: Steve Moore

so I got to tell you all these uh business lefties business reporter lefties and some day Traders they are blaming Liz Tron Liz Liz trusses she's the new British prime minister they're blaming her supply side tax cutting and ending the ban on fracking and deregulating all Positive Growth they're blaming the fall of the British pound on Liz truss's supply side agenda and I will say nonsense absolute nonsense the problem here is the Bank of England is not fighting inflation and the pound started collapsing and they lost control of the pound and they lost control of the British treasury market uh called the guilt market last Thursday when they only raised rates 50 basis points the Federal Reserve raised rates 75 basis points a day before and the bank of England last two raises 50 whereas the FED 75. there's your problem with an 8.6 inflation rate in Britain they are wussing out even while our friend Jay Powell is growing some hair on his chest all right that's my quick little uh tutorial here joining me now my pal Steve Moore Committee to unleash prosperity and freedom works and the author of Godzilla I mean Steve it's it's the it's the bank of England I mean we have a chart up we could show it again maybe the pound has been falling for a long time but they only won 50 last week the FED went 75 and then today at the end they said they'll you know they started saber Avenue we'll be tougher and tougher and the pound actually went up a tiny bit but that's the problem since when is lower tax rates bad for a currency or an economy that's the part I don't get uh well but Larry look uh Liz truss is turning into a hero I had some doubts about her when she was first nominated but she has been a superstar I mean it's hard to find anything not to like about what she has done so far you mentioned the tax cuts you mentioned the by the way she wants to take that top tax rate uh Larry from 45 down to 40 percent very much like what you guys did in the Trump Administration and lowering our taxes and and that caused the economic boom and more tax revenues this is a very sound policy Britain's going to go from one of the highest tax rates now down towards the middle that's going to attract Capital she's cutting one percent off of income taxes for all workers fantastic let's reward work it's uh it's very related to your previous discussion with with uh Kevin McCarthy we've got a reward work and reward people for getting back in the labor force uh she's pro-fracking did you know that Larry yeah she's in favor they have an energy crisis going on but Britain has a lot of energy they have a lot of oil and gas that they should be using and she's a very favor of that she's in favor of a hiring freeze by government great idea so this is a you know what I call this Larry this is bidenomics in Reverse it's it's fantastic and look the people in in the uh in her uh Camp uh looking at what's happening in the United States the disaster that's happened under Joe Biden the 21 we're down 25 in real terms or something like that with respect to the stock market so I don't I don't have a good explanation for why the market has fallen there in Britain but I'll tell you this if she can get this all done she's going to be the next Margaret Thatcher well I'm just saying the the latest drop in the British pad Bridge has been falling a long time because Boris Johnson was running Joe Biden Progressive policies that's exactly right and and Boris you know nice person uh know him well and so forth down through the years but you know he was running an anti- fossil fuel policy so just assume that art lab effort sent around today I'm sure you saw it this idea that lower tax rates now this is not like a temporary rebate these are lower tax rates and last time Britain raised taxes under Gordon right revenues fell okay they fell and this was a study by the UK treasury so don't tell me that the pound's falling because these tax cuts are going to be bad for the budget they're going to be great for the budget in fact they're going to you know in any Dynamic analysis that's the part that annoys me you get all these left it's so funny The Business Media with this network accepted I'll be honest with it the Business Media is very suspect you know they lean left I mean I read an article on another Network's website that said the reason the British pound was falling is because Liz trusses tax cuts will help the wealthy really they'll help of course they might help everybody including large and small but that's it'll help the wealthy so therefore the pound is going down that is such a bunch of hooey if the Bank of America had some hair on its chest it would be fighting inflation that's what's hap that's the problem you know I wanted to spend a moment on the show you know just to make this point I don't want this art supply side is going to be great for the British pound you know you said she's reversing uh Joe Biden she's reversing Boris Reaganomics is coming to the UK right that's exactly right in a movie theater near you yeah and by the way pay attention to what's happened to Italy as well now I I Georgiana Maloney I think is her name she's going to win in Italy she is very much in favor of tax cuts too what's going on here the Europeans are starting to maybe get it that these these woke left-wing big government policies aren't working and on this side of the pond our own leaders don't seem to get it although Kevin McCarthy does but but I think it's an exciting new development it's the first thing that I've seen in the last couple of months that I can feel like this is pro growth this is bullish look if you're right Larry and I think you are this is a time to maybe buy into the UK stock market you know you have two women on the supply side in Britain and Italy I can just see the leaders of the European Union their hair is on fire their brains are exploding how is this possible the big government models going down in Britain and now Italy I love the Italy thing because you know in terms of the Italian government nobody ever listens to the Italian government but if they're going to cut tax rates well whatever it's fabulous so by the way Larry you know what they're calling them they're calling them neo-fascists because I mean which is exactly the opposite where fascism is fashem is is big government these two leaders want to get the government out of the way and let businesses work to employ more people and grow the economy listen the Cavalry is coming worldwide Steve Moore thanks buddy appreciate

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