Well that is what was promised in the UK and was the situation when I wrote it. Unfortunately, our new PM is determined to give massive tax relief to our 1%. This is money we do not have so she is intending on borrowing it leaving it to be paid for in future years by working people. However Truss did not think whether anyone would be willing to lend her the money. This leaves the UK massively in debt over Covid and wanting to borrow more just to give those with the most money massive tax relief. A smaller amount of money will need to be borrowed to pay for our winter fuel bills. In addition it is looking like with big raises in interest rates expected people will be paying so much more for their mortgages that many will not be able to afford their homes. Truss's ideas are seen as something which could delay the recession in the UK. Delay for a short time but then it will really come back and obviously working people and the MC are going to be extremely poor by then. Under this situation it is more difficult to know what the hell is going to happen except that out super rich are going to be very much more rich. You may know the value of the pound is plummeting. People are not keen to lend the UK money to give massive tax relief to the most rich.
Britain's bond market suffered its biggest daily fall in decades on Friday and is expected to slump further, as investors choked on the prospect of hundreds of billions of pounds in extra borrowing to fund tax cuts and energy bills.
www.reuters.com
That is the situation in the UK making even capping of fuel bills questionable. What will happen in Germany remains to be seen.