Analysis: The chancellor has been warned that the UK is heading for a recession, but he is reluctant to act
The pressure is mounting for Rishi Sunak – the question is when will he crack? After the Bank of England warned the economy was heading for a recession caused by the cost of living crisis, with inflation set to top 10% by the autumn, demands on the chancellor for a fresh package of emergency support for struggling families have reached a crescendo.
Threadneedle Street forecasts the second-biggest income squeeze since modern records began in 1964, with inflation racing to the highest level since the 1980s.
Cost of living crisis, Economics, Business, Rishi Sunak, Politics, UK news UK news | The Guardian