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Sunak scorns Truss’s claims that tax cuts can avert recession

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theguardian.com

Liz Truss has claimed her tax cut plans could avert the looming recession, after the Bank of England forecast 13% inflation and a downturn lasting more than a year.In a televised leadership interview, the foreign secretary was challenged about gloomy projections made by the Bank on Thursday, as it increased interest rates by 0.5 percentage points.“What the Bank of England has said today is, of course, extremely worrying.

But it is not inevitable,” she said. “We can change the outcome, and we can make it more likely that the economy grows.”Truss and her Conservative leadership rival, Rishi Sunak, were each grilled by a studio audience made up of Conservative members, and Sky News presenter Kay Burley.Sunak, who appeared after Truss, stepped up his criticisms of her £30bn plan for unfunded tax cuts, claiming it would lead to “misery for millions”.“The lights on the economy are flashing red, and the root cause is inflation.

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