Liz Truss’s mini-Budget blew up the Tories’ bedrock of middle England support - and there are no signs of it recovering 🔎 Analysis by paulwaugh
50 per cent of those who voted Conservative in the last election had paid off the mortgage on their home
that the Bank of England is now predicting that the recession will be shorter and shallower than it had previously forecastIndeed, Hunt was so keen to show how closely allied he is to the Bank that he actually welcomed its latest hike in interest rates to 4 per cent. “Inflation is a stealth tax that is the biggest threat to living standards in a generation, so we support the Bank’s action,” he said.
After the worrying gap between the Bank and the Government during Liz Truss’s disastrous reign, Hunt is clearly keen to show he’s in “lockstep” with its every move. Yet his backing for rate rises highlights the very problem Truss started – higher interest rates are now associated with the Conservatives.
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