Bank of England governor Andrew Bailey warning of growing cost-of-living crisis
(Picture: PA Wire)Bank of England Governor Andrew Bailey warned on Monday that real incomes in Britain are set to be hammered by an economic shock from soaring energy prices bigger than in any single year in the 1970s oil crisis.
He issued the stark warning as Chancellor Rishi Sunak was being grilled by MPs on the Commons Treasury Committee about whether his Spring Statement had done enough to protect millions of households from a painful cost-of-living squeeze.
