The Great Freeze
The Great Freeze was a period during the Premiership of the 2nd Viscount Douglas in which the Prime Minister, William Somerset successfully froze the legislative apparatus of the economy from November 2023 until it's return in March 2024 under his successor, Thomas Carew.
Somerset had previously been the Chancellor of the Exchequer behind the acclaimed economic overhaul during the Premiership of the Duchess of Edinburgh, hailed as Josinomics. This was, among other things, a mass update of the economic model to reflect more realistic salaries, wages, and economic transactions, as well as the creation of additional bureaucracy and legislative loopholes for businesses, properties, and forms of taxation. It was widely hailed as one of the defining successes of the Edinburgh Premiership and of Somerset's career, cementing him as one of the regions' most reliable and effective Chancellors.
However, mass burnout with the economy and his personal regrets regarding the outcome of certain reforms led to Somerset advocating for a "Freeze" of the economy during his bid for PM in November 2023, and he routinely came into debate with the Liberal Democrats who were in opposition. Nevertheless, he successfully passed legislation that froze key economic acts and bills: routinely throughout, Somerset became infamous for his slogan "It's a freeze, not a repeal", much to the exasperation of those wishing for the economy to stay, and to the widespread acclaim of those advocating for the abolishing, or rather, freezing of the economy.