UK is Australia’s dark alternative future

As Treasurer Jim Chalmers prepares to hand down his mini-budget next month, his counterparts in the mother country have given him a preview of just how badly a mini-budget can go in an advanced, small open economy. A kind of dress rehearsal for how things could go here with some bad luck and three or four too many colossal policy blunders.

To be clear, there’s been quite a bit of mischaracterisation and misunderstanding of exactly what new British Prime Minister Liz Truss and Chancellor of the Exchequer Kwasi Kwarteng unleashed on the UK economy last week.