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.

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British Foreign Minister Liz Truss clashed over the future of the economy with former Finance Minister Rishi Sunak on Thursday as the two contenders to be Britain’s next Prime Minister debated the Bank of England’s warnings of a long recession.

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.”

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