Fiscal prudence is “an existential imperative,” according to an economist-lawmaker, after the announcement of a new tax cut plan by the British government pulled the pound sterling to a 40-year low against the US Dollar.
FISCAL prudence is “an existential imperative,” according to an economist-lawmaker, after the announcement of a new tax cut plan by the British government pulled the pound sterling to a 40-year low against the US Dollar.
“Fiscal prudence is a matter of national strength. Although there are global financial cycles that you can’t fight, like the currently almighty dollar, there are things you can do, like keeping fiscal responsibility,” said Salceda. This week, he said, the pound fell by as much as 5 percent against the dollar—at one point touching $1.0327, its weakest at least since the introduction of decimalization in the early 1970s.“We need not commit the mistakes of others to learn from them. Clearly, confidence in a country’s fiscal strength still matters.
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