Economics and Business Debate

How positive is the UK’s new mini-budget?

 

Throughout the year, pupils have learnt about different economic systems, models and equations to determine economic success, however, all of this needs to be practised in real-time. This week, pupils have been assessing the strengths and weaknesses of Kwasi Kwarteng’s mini-budget in the UK. This culminated in a boardroom debate, with pupils arguing both for and against the mini-budget and its impact on the UK economy. 

 

The proposition began arguing that the mini-budget will have a negative impact on the economy, citing the effects of increasing interest rates and rising household bills on spending and therefore stunting economic growth. However, the opposition countered these arguments, proposing that the government remains able to care for its citizens even while making tax cuts and increasing the UK deficit. 

 

Mr Bhogal and Mr Waterhouse acted as adjudicators, posing questions and challenging some of their arguments. However, after some debate, it was declared that the proposition was to claim victory after their clear argument highlighting key points against the mini-budget, and the lack of empirical evidence of its aid for the UK economy and business. 

 

The success of this debate led Mr Waterhouse to repeat its format with his Hundred Economics class later in the week. The pupils introduced many similar arguments surrounding the effects of inflation, the bankers’ uncapped bonuses and the weakening of the pound. Both groups did exceedingly well in how they structured their arguments and provided some well-considered rebuttals to the opposition.

 

 

You may also like