Since the UK’s first Indian-origin Prime Minister was asked to form a government by King Charles III last month, many are still trying to work out what Rishi Sunak and his Chancellor will do to close the massive hole in public finances and reduce the impact of increased energy prices.
The forthcoming Autumn Statement has not been made any easier by the Bank of England’s decision to raise interest rates to 3% last Thursday.
The rationale for this increase, as has always been the plan from Threadneedle Street, is to bring inflation under control when there are fears, if the issue of rising prices is not addressed, that it may become embedded into the economy with catastrophic results.
