Brits have been hit with a barrage of bad news today as rampant inflation threatens to plunge the economy into recession.
JP Morgan’s Karen Ward, who sits on the Chancellor’s economy advisory council, called on the Bank of England to interrupt after inflation remained unchanged at 8.7 per cent in May.
She said the Bank may have to create a recession to bring prices back under control.
“They have to create uncertainty and frailty”, Ward said, adding that only weakness in activity could bring it back under control.
The UK is currently one of the worst-performing economies of the G7, with Brexit exacerbating global economic headwinds.
David Lammy has said Labour will “improve our trade deal” with the European Union to encourage trade, pointing to the bloc as the UK’s most important economic relationship.
Speaking to Dan Wootton on GB News, Nigel Farage has asked “what was it all for?” on the back of recent data.
Watch the interview in full below:
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