I think that's taking it a bit far. "Extreme neoliberalism" would be something like the 10% flat tax on personal income that they have in Bulgaria - as I posted upthread this change taxes income taxes back to where they were during the Blair years, albeit with lower real-terms thresholds.
Similarly, if you look at tax and spend as a % of GDP (excluding the energy bailout) it will not be out of line from what was normal in the early 00's.
To the point about the rich getting richer during COVID, that was an inevitable consequence of monetary expansion and low rates - with rates rising world wide, I think you could say that "this time it's different"...
with rates rising world wide, I think you could say that "this time it's different"...
We're about to find out which economies have spent the last decade preparing for this sort of global crisis and which ones haves been lining their own pockets.
I think that's taking it a bit far. "Extreme neoliberalism" would be something like the 10% flat tax on personal income that they have in Bulgaria - as I posted upthread this change taxes income taxes back to where they were during the Blair years, albeit with lower real-terms thresholds.
Similarly, if you look at tax and spend as a % of GDP (excluding the energy bailout) it will not be out of line from what was normal in the early 00's.
To the point about the rich getting richer during COVID, that was an inevitable consequence of monetary expansion and low rates - with rates rising world wide, I think you could say that "this time it's different"...