UK PM hopefuls Sunak and Truss clash over recession warning in debate - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

Britain's Conservative Party leadership candidate Liz Truss.

The Bank of England said on Thursday that Britain faces a protracted recession as energy price-driven inflation squeezes household budgets. Tackling that crisis in the economy will fall to Truss or Sunak in a month’s time. She said the government’s decision to raise the tax burden to the highest level since the 1950s was to blame for pushing the economy towards a recession.

“You simply can’t tax your way to growth. I’m afraid that the taxes we have at the moment, a 70-year high, are likely to lead to a recession.”

Banks Are Bankrupt 💥

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Makashule Gana resigns from DA - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.DA member and member of the Gauteng Legislature, Makashule Gana, has resigned from the party after 20 years. He joins a string of other black leaders including most recently Phumzile van Damme, Bongani Baloyi and Mbali Ntuli. . Bayalayeka labo Mayibuyee! I Afrika!! It seems like Afrika is coming back to its sense.
Source: SABCNews - 🏆 37. / 51 Read more »