Joe Biden's 'Made in America' gaffe sparks ridicule
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Joe Biden has been criticised for intervening in UK politics after berating Liz Truss’s mini-budget. The US President has been described as “disloyal” for “publicly trashing” a British Prime Minister. This came after Mr Biden said Ms Truss’s economic plans were “predictable”, adding: “I wasn’t the only one who thought it was a mistake.”
He continued: “The idea of cutting taxes for the super-wealthy.
“I disagree with that policy but it’s up to Britain to make that judgement, not me.”
He was criticising the policies announced at Ms Truss’s mini-budget, which included cutting the basic rate of income tax from 20 to 19 percent and abolishing the 45 percent top rate of tax.
Hitting out at the remarks on Twitter, UK commentator Piers Morgan said: “Wow. Very unusual, and disloyal, for a US President to publicly trash a British Prime Minister like this – and Biden is hardly in a position to lecture anyone else about the economy or leadership”.
He added: “It’s not about whether Biden’s right, it’s about him chucking a British PM under the bus. Highly unusual thing for any US President to do.”
Meanwhile, the Spectator’s Steerpike column pointed out that, even if Ms Truss’s proposals went ahead, Britain would still be a “considerably less accommodating fiscal destination for the super wealthy than America currently is.”
The gossip column explained: “Not only are there many more ‘super wealthy’ Americans – they pay considerably less as a percentage of their income in tax than their well-off British peers.”
It added: “Biden has probably forgotten, but he has proposed increasing the top rate of marginal tax in the US – for those earning over $530k, remember – to 39 per cent.
“That would still leave the US federal rate below where Liz Truss was proposing it should be for the UK.
“Perhaps he should reflect less on Britain’s fiscal rates and more on the failure of his absurdly named Inflation Reduction Act and the threat facing his party in the upcoming mid-terms – as less fortunate Americans struggle to cope with the cost of living.”
In a humiliating reversal earlier this week, the Prime Minister reversed plans to scrap an £18bn rise in corporation tax and sacked Chancellor Kwasi Kwarteng, replacing him with Jeremy Hunt.
The Prime Minister admitted “parts of our mini-budget went further and faster” than the markets were expecting.
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But she insisted she would stay on as Prime Minister to see through her “mission” to get the economy growing.
She added: “I’m absolutely determined to see through what I promised – to deliver a higher growth, more prosperous United Kingdom to see us though the storm we face.”
In the wake of the mini-budget in September, the pound fell to a record low against the dollar. The following Monday, borrowing costs reached their highest levels since August 2008.
The Bank of England was then forced to intervene over a “material risk” to the UK economy, announcing it will start buying bonds in order to stabilise what it described as “dysfunctional markets”.
This came amid growing fears of a run on pension funds, similar to that seen by Northern Rock customers at the start of the financial crisis.
Ms Truss’ approval ratings nosedived following the mini-budget.
A poll conducted by Opinium earlier this week gave her a personal approval rating of -47 – an even worse rating than that recorded for Boris Johnson during Partygate and Theresa May in the weeks before her resignation.
The poll, using a survey of 2,023 people from 5 to 7 October by Opinium, saw 64 percent of people say they “disapprove” of the job Ms Truss is doing, up by nine points from last week.
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