These are some wonderful stories to start and end

These are some wonderful stories to start and end

Let's bracket today with some wonderful comedy, some to start and some very sadly to end.

Here is a very smart take on trickle-down economics, something you've not heard a lot of in recent times.

The pandemic created between the most and least wealthy, but a new British leader Liz Truss has announced 50 billion dollars in pledges, including tax cuts for the wealthy and removing the cap on bankers' bonuses. Economic foundering Britain went right through the looking glass in 2022 post-Brexit.

It was painfully evident during the 10 days I was in London covering the death of the Queen that different kinds of Britons were living very different lives.

The one percenters were never better off, despite the fact that they were hampered by the restrictions of Brexit, while those struggling seemed to struggle harder. Eighty per cent of the UK's lowest paid workers say they are experiencing the hardest financial conditions of their lives. The shock of Brexit, the energy crisis, weak productivity growth and soaring inflation made much of this often-amazing city seem like a new struggle street.

It was fascinating to hear economists and political pundits say that the death of their long-constant monarch was one more shock that the system could not handle.

Or was it a distraction? While I was there I sought out the London School of Economics senior fellow at the School of Economic Performance, Anna Valero, about the economic challenges facing Britain right now, and she lamented a lost summer of policy while the Conservative leadership fell apart.

Valero noted the psychological effects of the loss of a universally revered figure, but he noted that the large-scale inequalities that have persisted in Britain are now underpinning almost impossible problems for the Government.

Valero wondered if the late monarch would want to see her people treated.

In some terrifying way, Liz Truss is right, as the Reddit-ers say, hear me out Before Brexit, London was the financial centre of the Eurozone, and the services industry generally is the largest sector in the UK economy, responsible for three quarters of annual GDP.

Financial trade has moved to Amsterdam and New York and research by New Financial shows that more than 440 banking and financial organisations have moved to the EU, with more than 10 per cent of bank assets moving to the EU.

The number of UK businesses exporting goods to the EU fell 33 per cent due to the extra red tape now required.

A distressingly struggling country can lure business and growth back to its shores by tickling the tummies of bankers and insurance companies and investment houses. It's not comfort for households wondering this winter if they can turn on the gas for the kettle or buy fresh food.

US President Joe Biden, who initially refused to meet Truss when he came to town for the funeral, was contemptuous and perhaps spoke for a few of us when he wrote on Twitter: I'm sick and tired of trickle-down economics. It has never worked. This weekend you can read about when Tony met Oprah who met Sidney, and we have more TikTok shenanigans that should come with a don't try this at home warning.

Have a safe and happy weekend and if you missed the last moments of the bona fide genius of Shaun Micallef, then please head to iview for a catch up and let me spoil the ending for you here: sheer perfection.

I dedicate this week's song to the man in the mask himself, as the lights go down: go well, Shaun.

Virginia Trioli is a presenter on Mornings on ABC Radio Melbourne.