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The Latest Breaking News from Bank of England

Household bills could rise by £6,000 this year as price of energy, housing and food soars

Rising energy bills, food prices and mortgage costs are creating a perfect storm for hard-up households across the UK, with most now facing being thousands of pounds worse off by Christmas

Daily Mirror

Monday briefing: How to understand the huge numbers that rule our economy

In today’s newsletter: From GDP and government spending to inflation, it can be hard to get around the big figures you see in the headlines and what they really mean. So here’s a guide

The Guardian - UK

'Come out of hiding and tackle cost-of-living crisis', absent Boris Johnson told

BORIS Johnson must come out of hiding and recall the Westminster parliament to bring in measures which will tackle the growing cost of living…

The National (Scotland)

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Interest rate rise will be as useful as medieval bloodletting

Letter: The Bank of England’s recent rate increase will do nothing to curb inflation, says Jean-Claude Fouque

The Guardian - UK

Liz Truss vows to reverse National Insurance rise ‘immediately’

The Foreign Secretary’s campaign team said she would accelerate the reversal of the NI rate rise by six months

Evening Standard

Fading global cooperation will make this crisis worse than the recession of 2008

The global financial crisis brought large economies together but the current crisis comes at a time of deep division

The Guardian - UK

Liz Truss backs away from rejection of cost of living crisis ‘handouts’

Calls for emergency budget to avert ‘financial timebomb’ for families

The Independent UK

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Rishi Sunak takes aim at Liz Truss over her 'starry-eyed boosterism' as pair clash on economy

The two candidates vying to replace Boris Johnson as prime minister continued to clash over their plans for the economy after the Bank of England warned this week that the UK would fall into the longest recession since the financial crisis.

Daily Record

Gordon Brown demands emergency budget as Truss and Sunak bicker over cost of living help

The former prime minister has warned that millions of people in the UK will be plunged into poverty if urgent action isn't taken

The National (Scotland)

Liz Truss vows to cut taxes ‘immediately’ to tackle cost-of-living crisis

The Tory leadership contender wants to accelerate the reversal of the national insurance rate rise by six months.

The Independent UK

Rishi Sunak slams Truss’s ‘starry-eyed boosterism’ as clashes over economy continue

Ms Truss vowed to use a September emergency budget to “immediately” cut taxes

Evening Standard

The Observer view on the Tory party leaving Britons to face the crisis alone

As millions face hardship thanks to soaring bills, the Tories are focused on their next leader rather than the emergency at hand

The Guardian - UK

UK's Liz Truss ready to speed up tax cut plan, newspaper says

Liz Truss, the front-runner to become Britain's next prime minister, plans to rush through tax cuts earlier than planned in an attempt to boost the country's flagging economy, the Sunday Telegraph reported.

Reuters

Sunak slams Truss’s ‘starry-eyed boosterism’ as clashes over economy continue

Ms Truss vowed to use a September emergency budget to “immediately” cut taxes.

The Independent UK

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Daily Mirror

Home owners face £5,000 a year mortgage hikes - with repossessions doubling

Rocketing interest rates could double this year’s projections for repossessions to 24,000 by 2024 according to an economic consultancy’s analysis of latest Bank of England figures

Daily Mirror

Pensioners will be just 8p better off than they were in 2009 due to soaring inflation

Labour analysis of Bank of England figures shows annual pensions worth £6,930 13 years ago will only see a real terms increase to £6,934 by next March

The Independent UK

Truss insists on tax cuts not ‘handouts’ to help families amid spiralling prices

The Tory leadership hopeful said her plans could avert a downturn.

The Guardian - UK

Liz Truss rejects ‘handouts’ as way to tackle cost of living crisis

Conservative leadership frontrunner insists on tax cuts despite claims they will fuel inflation

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news in one place.

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The National (Scotland)

Truss says she won’t be giving ‘handouts’ as cost-of-living crisis continues

LIZ Truss has claimed that “handouts” are not the best way to help households as the cost-of-living crisis continues to squeeze households…

The Independent UK

Liz Truss rejects ‘handouts’ as solution to cost-of-living crisis

Tory leadership contender’s tax cut plan will not help the hungry, warns business leader

Daily Mirror

Your rights if you can't afford your bills after Bank of England interest rate hike

Consumer rights expert Martyn James explains everything you need to do if you can't afford your bills after the Bank of England raised interest rates from 1.25% to 1.75%

The Independent UK

Sunak and Truss tear each other apart on economy in latest leadership hustings

Rishi Sunak warned that unless inflation gets under control, there is ‘no hope’ the Tories will win the next election.

Bangkok Post

Asian shares advance as oil prices retreat

RECAP: Asian equities mostly rose yesterday as a drop in oil prices to pre-Ukraine war levels stirred hopes of a slowdown in inflation and bank interest-rate hikes. But while global markets have enjoyed a broadly positive week, recession worries and Chinese military drills around Taiwan have traders' nerves on edge.

The Guardian - UK

Truss warns against ‘talking UK into a recession’ in leadership hustings

Tory favourite for No 10 says taxes should be kept low as rival Sunak says his priority will be to tackle inflation

The Independent UK

Tories can ‘kiss goodbye’ to next election if they fail to control inflation, says Sunak

Former chancellor warns rival Liz Truss will fuel price rises by cutting tax too soon

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