The chairman of Asda Lord Rose has said that the rise in inflation is going to be painful for everybody and said he believes a recession is 'inevitable'. The Conservative peer has also called for Government action to tackle the growing cost of living crisis.
He told BBC Radio 4’s Today programme: “I don’t believe it’s a question of if we have a recession, I think it’s a question of when we have it – we are heading towards a recession.”
He added: “We have been very, very slow in recognising this train coming down the tunnel and it’s now here, and it’s not only about to run us over, it’s run quite a lot of people over and we now have to deal with the aftermath of that.”
