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LONDON—Four decades after Ronald Reagan , new U.K. Prime Minister Liz Truss is betting that a dose of tax cuts, new spending and deregulation will do for the British economy what a similar recipe did in the early 1980s for the U.S.: lead to an economic revival. On Friday, Ms. Truss’ government is expected to announce a series of tax cuts, including cutting taxes for new home purchases as well as reversing planned hikes in the corporate tax and cutting a recent increase in payroll taxes. It will also abolish limits on bonuses for bankers and allow fracking for shale gas across the U.K.

☆ Britain lifts ban on fracking for shale gas
▼ + stars: | 2022-09-22 | by ( ) www.reuters.com time to read: +1 min

A fracking rig flares gas during an anti-fracking protest by Greenpeace activists outside the Houses of Parliament in London, Britain February 9, 2016. REUTERS/Stefan Wermuth/FilesLONDON, Sept 22 (Reuters) - Britain on Thursday formally lifted a moratorium on fracking for shale gas that has been in place since 2019, saying strengthening the country's energy supply was an "absolute priority". Business and Energy Secretary Jacob Rees-Mogg said all sources of energy needed to be explored, "so it's right that we've lifted the pause to realise any potential sources of domestic gas". Fracking, which involves extracting shale gas from rocks by breaking them up with water and chemicals at high pressure, was banned after the industry regulator said it was not possible to predict the magnitude of earthquakes it might trigger. The government said that ending the ban would allow drilling to restart and more data to be gathered, building an understanding of how shale gas can be safely extracted where there was local support.

☆ Energy crisis spurs Britain to end its fracking ban, digging up a long-running debate
▼ + stars: | 2022-09-22 | by ( Jenni Reid | ) www.cnbc.com time to read: +5 min

The derrick is seen behind anti-fracking banners at Cuadrilla's Lancashire fracking site. Christopher Furlong | Getty ImagesLONDON — The U.K. government lifted its ban on fracking Thursday, citing the need to increase domestic energy supply following the Russian invasion of Ukraine. The divideA 2020 review by Warwick Business School estimated fracked gas could account for between 17% and 22% of U.K. energy consumption between 2020 and 2050. A past study found that shale gas operations themselves would contribute relatively little to greenhouse gas emissions. A report commissioned by the government in April and published Thursday found it was still not possible to accurately predict geological activity as a result of U.K. fracking operations.

☆ The Federal Reserve's plan to combat recessions rarely works and often benefits the already-rich — here's why
▼ + stars: | 2022-01-15 | by ( Paul Constant | ) www.businessinsider.com time to read: +6 min

Leonard says the Fed should put money into Americans' hands, not Wall Street, to boost the economy. The problem wasn't in the creation of new money, Leonard argues — the problem was where that new money went and who was in charge of distributing it. "There's this group of 24 banks on Wall Street — financial institutions like JP Morgan, Goldman Sachs, Wells Fargo," Leonard said. "From basically 1950 until 2008, that's how the Fed influenced our supply of money," Leonard said. "They would gradually loosen or tighten the money supply by making these purchases on Wall Street."

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