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The Latest Breaking News from Bank of England

Sunak slams Truss’s ‘starry-eyed boosterism’ as clashes over economy continue

Ms Truss vowed to use a September emergency budget to “immediately” cut taxes.

The Independent UK

Home owners face £5,000 a year mortgage hikes - with repossessions doubling

Rocketing interest rates could double this year’s projections for repossessions to 24,000 by 2024 according to an economic consultancy’s analysis of latest Bank of England figures

Daily Mirror

Pensioners will be just 8p better off than they were in 2009 due to soaring inflation

Labour analysis of Bank of England figures shows annual pensions worth £6,930 13 years ago will only see a real terms increase to £6,934 by next March

Daily Mirror

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Truss insists on tax cuts not ‘handouts’ to help families amid spiralling prices

The Tory leadership hopeful said her plans could avert a downturn.

The Independent UK

Liz Truss rejects ‘handouts’ as way to tackle cost of living crisis

Conservative leadership frontrunner insists on tax cuts despite claims they will fuel inflation

The Guardian - UK

Truss says she won’t be giving ‘handouts’ as cost-of-living crisis continues

LIZ Truss has claimed that “handouts” are not the best way to help households as the cost-of-living crisis continues to squeeze households…

The National (Scotland)

Liz Truss rejects ‘handouts’ as solution to cost-of-living crisis

Tory leadership contender’s tax cut plan will not help the hungry, warns business leader

The Independent UK

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Your rights if you can't afford your bills after Bank of England interest rate hike

Consumer rights expert Martyn James explains everything you need to do if you can't afford your bills after the Bank of England raised interest rates from 1.25% to 1.75%

Daily Mirror

Sunak and Truss tear each other apart on economy in latest leadership hustings

Rishi Sunak warned that unless inflation gets under control, there is ‘no hope’ the Tories will win the next election.

The Independent UK

Asian shares advance as oil prices retreat

RECAP: Asian equities mostly rose yesterday as a drop in oil prices to pre-Ukraine war levels stirred hopes of a slowdown in inflation and bank interest-rate hikes. But while global markets have enjoyed a broadly positive week, recession worries and Chinese military drills around Taiwan have traders' nerves on edge.

Bangkok Post

Truss warns against ‘talking UK into a recession’ in leadership hustings

Tory favourite for No 10 says taxes should be kept low as rival Sunak says his priority will be to tackle inflation

The Guardian - UK

Tories can ‘kiss goodbye’ to next election if they fail to control inflation, says Sunak

Former chancellor warns rival Liz Truss will fuel price rises by cutting tax too soon

The Independent UK

Bank of England’s dire recession warning too ‘optimistic’ amid gas threat, economists say

‘If Russia were to completely cut supplies and we had a cold winter it would be a perfect storm’

The Independent UK

Liz Truss grins as she visits world's biggest Union flag

LIZ Truss beamed with joy as she visited the world’s largest Union flag on Friday.

The National (Scotland)

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Wales Online

First average house price fall in UK since June 2021, month-on-month figures show

A typical UK property now costs £293,221

Evening Standard

Stagflation: What is it, and what can be done to tackle it?

A recent report has warned that the UK is headed for a recession that will plunge millions of vulnerable households across the UK into financial crisis.

The Guardian - UK

Truss ‘irresponsible’ for threatening to review Bank of England remit

Labour’s Rachel Reeves says Conservatives are ‘playing blame game’ for UK’s economic problems

The Independent UK

Rishi Sunak ‘did not take a holiday as chancellor’ as PM accused of going awol during economic crisis

Treasury spokesperson expresses hope Sunak has quality time with his family in ‘whatever job he gets next’

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Evening Standard

‘Next PM must find billions to help struggling households’

There are strange quirks to the UK’s unwritten (or so no one writes in, uncodified) constitution. Did you know that in the 1990s and 2000s, a by-election was not considered legitimate unless Michael Crick had doorstepped a terrified local candidate?

The Guardian - UK

Andrew Bailey: who is the Bank of England governor – and is his job safe?

He has been accused of being asleep at the wheel over inflation, but sacking the Threadneedle Street chief would be a risky step

Daily Record

Outrage as Tory minister tells Scots to wait weeks for cost-of-living help

Business Secretary Kwasi Kwarteng said he expects an emergency budget from the next prime minister to contain measures to help people.

Wales Online

Seven steps you need to take now to survive the oncoming winter bills storm

The cost of living crisis will accelerate in October with a year of recession forecast - meaning higher bills, higher prices and job cuts

The Independent UK

Recession forecast explained: What you need to know

The UK’s central bank has predicted a long recession and eye-watering inflation

The Independent UK

Andrew Bailey denies Bank was too slow to act over soaring inflation

The Governor of the Bank of England warned that earlier interest rate rises could have brought forward a recession.

Daily Mirror

Everything you can do NOW to prepare for ‘devastating’ winter bill shock

Winter is coming and families are being warned of a string of enormous bill hikes. We explain everything you can do to prepare for the huge increases

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