U.S. Republicans owe Britain’s Conservatives a debt of gratitude of sorts. The Tories are implementing all of the Republicans’ worst economic ideas so the Americans have a chance to see how those plans work before committing the same mistakes. Witness the budget Chancellor Jeremy Hunt unveiled last week that substitutes subsidized day care for an economic-growth plan.
Fixated on balancing the budget, Mr. Hunt and his boss, Prime Minister Rishi Sunak, have delivered punishing tax increases that are suffocating investment, and then hoping subsidies can soften the economic blow.
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