Dhaka, Oct. 8 -- The new Conservative government of Liz Truss unveiled a comprehensive set of tax cuts keeping in line with her campaign undertakings for the prime ministership to cut taxes and champion supply-side economics. During the campaign, Truss modelled herself on Margaret Thatcher who introduced a series of market-friendly neo-liberal economic policy measures after taking office as prime minister in 1979.

Now Truss has delivered her free market agenda. On September 23, chancellor Kwasi Kwarteng introduced a mini-budget and unveiled the biggest package of tax cuts in 50 years, hailing a "new era" for the UK economy. This costly stimulus package was presented as part of a broader effort to boost the underlying growth rate, but cam...