New Chancellor Kwasi Kwarteng recently unveiled his mini-budget to a mixed public reaction. The Government announced that they would cut taxes by £45 billion without significant spending cuts as the country tries to navigate its way through its deepest economic crisis in recent memory.
Kwateng said he is ‘’confident’’ his mini-budget will deliver growth and ease Britain’s fiscal woes, and I’m inclined to believe him.
The Pound Sterling fell by 3.6% in late September in its biggest single-day tumble for more than 40 years. As Britain finds its feet after COVID, it may have to endure some short-term pain for long-term gain.
The public have both lauded and derided the mini-budget. Some say it benefits only the rich, whilst others say the reduced taxes will encourage spending even more.
Pound Remains A Sought-After Prize
But none of that matters to me. Regardless of what so-called economists say, the Great British Pound will always be the most valuable and illustrious currency in the world. The iconic Pound is a sought-after prize in the vast majority of countries and its value dwarfs 99% of other, lesser currencies out there.
I often joke that I like the Pound so much, I embarked on a mission to collect millions of them - and to say I’ve been successful in my venture would be a massive understatement.
Normality Will Return
To the doom-and-gloomers out there, I’d like to reassure you that the so-called economic meltdown we’re experiencing is largely fantastical. Whilst it’s true that Brits face massive hikes in living costs, it’s important to remember that it’s only temporary and things should get back to normal soon.
Her Majesty’s passing earlier this month reminded us that things like money, interest rates, rent costs, and fuel prices really aren’t that important in life. It’s fun and trendy to bash our beloved Pound Sterling, but there will come a time when it has the last laugh.
The plus-side from all this is how we’ll soon be treated to shiny new coins depicting the benevolent King Charles III. The stunning portrait of our new King will adorn pennies, Pounds, and bank notes very soon, and this is sure to lift the spirits of the British public and help them forget all about the pesky cost-of-living crisis.
Pound Legacy Won’t Be Tarnished
The Chancellor stood by his plans by stating :"We've actually put more money into people's pockets," "We're bringing forward the cut in the basic rate and there's more to come.’
As if that wasn’t enough music to my ears, he went one step further by adding: "I want to see over the next year, people retain more of their income, because I believe it's the British people that are going to drive this economy.’’’
Bravo, Kwasi, bravo.
The Great British Pound’s legacy will not be tarnished because of a few months of economic struggle, and we will surely see its value soar once again.
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