As the Daily Mirror asks, why is the government refusing to help Britons facing higher interest rates, rising energy bills, and unemployment?
A “triple whammy of pain” for Britons will be inflation, unemployment, and higher interest rates, writes the Daily Express.
The Times reports that Cabinet colleagues are under increasing pressure from Rishi Sunak to implement radical tax cuts following the Bank of England’s warning.
According to the Daily Mail, workers face a record squeeze on their incomes as surging inflation threatens to drive the UK into recession.
The Bank of England has warned that Britain could enter a recession, prompting calls for the government to introduce a new package of emergency financial support for households, according to The Guardian.
Families will be hit by a £1,200 interest rate hike when the Bank of England raises interest rates to 1%, reports the i.
The Independent predicts that inflation will reach more than 10% by October.
According to the Bank of England, Britain is on the verge of a recession, which is also reported on the front page of the Daily Telegraph.
Metro also reports that the Bank of England expects inflation to reach its highest level since 1982 later this year.
According to the Financial Times, the Bank of England has warned that higher energy prices will drive inflation above 10% and push the UK economy into recession this year.