PM Boris Johnson and Chancellor Nadhim Zahawi were both on holiday as households were told to brace themselves for the worst recession since the 1990s.
Mr Johnson was reportedly sunning himself on honeymoon in Slovenia and Mr Zahawi was on a family break, “working remotely”, as the Bank of England raised interest rates to 1.75% in the biggest hike for 27 years.
The Bank also forecast inflation would hit 13% this year and said real incomes would fall 1.5% in 2021 and 2.25% in 2023, the first time they will have dropped two years in a row since records began in the 1960s.
