The Bank of England is today almost certain to raise interest rates yet again.
The Bank is fighting an economic firestorm caused by the Tory arsonists running the country. Rishi Sunak came to power promising to restore stability after the reign of Liz Truss. But if anything, the carnage has got worse.
Inflation remains stubbornly high at 8.7%, growth has flatlined, taxes are at a record level and debt has risen to its highest rate since the early 1960s. And having torched the economy, the Government has ignited a mortgage crisis.
Over the next 18 months, some 2.4 million homeowners will face paying thousands of pounds a year more as their fixed-rate deals come to an end. Renters are also being punished as landlords hike rents.
In the face of this growing disaster, Chancellor Jeremy Hunt has acted like a rabbit transfixed by the headlights of a super truck.
By contrast with the hopeless Mr Hunt, Labour has come forward with a plan to help households buffeted by rising housing costs.
Only one party appreciates the depth of the economic malaise we are in.
Only one party deserves to be power.
Rush to praise
Seventy-five years ago, 800 passengers from the Caribbean disembarked at Tilbury docks from HMT Empire Windrush.
The Windrush generation went on to play a crucial role in Britain’s recovery after the Second World War. They worked in our factories, the NHS and our schools. Along the way, they enriched our culture.
This week, we celebrate their contribution – but for many it will be a bittersweet moment.
Thousands wrongly classified as illegal workers are still waiting on the Windrush compensation scheme. They deserve better from a country they helped rebuild.
Beale’s appeal
After a 25-year absence, Michelle Collins is back in Albert Square.
Fans will be hoping Cindy Beale’s return will also see EastEnders return to its heyday.
