Britain is in the midst of a financial crisis – we need an emergency budget NOW

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Britain in danger

WHO is running the country at this time of grave economic, political and societal danger? Someone?

The Bank of England is now warning of an apocalyptic recession lasting a year and a quarter, with inflation reaching 13% and energy bills tripling.

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We have no weeks or months to waste. We need an emergency budget now, with new measures to protect millions of people in difficultyCredit: Getty
Rishi Sunak and Liz Truss seem blind to the monstrous scale and urgency of the nation's problems

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Rishi Sunak and Liz Truss seem blind to the monstrous scale and urgency of the nation’s problemsCredit: Getty

It will be a shock millions of people have never experienced. Yet no one is there to help. No one is at the helm.

Boris Johnson, driven from office at the worst time, is on a deckchair.

His replacement is nearly five weeks away from taking office – and the contest between Rishi Sunak and Liz Truss seems blind to the monstrous scale and urgency of the nation’s problems.

Even the work is AWOL. Keir Starmer is on vacation. His underlings do not think constructively among themselves.

We should take some comfort from the Bank’s raising interest rates in a belated attempt to control runaway inflation.

But he was serially incompetent.

The Sun was among many warnings last year of soaring inflation, the predictable backlash to two years of lavish Covid bailouts.

Why didn’t the Bank, charged only with keeping it at 2%, raise its rates at that time?

He can’t just blame Putin’s war. Inflation was already close to 6% at that time.

It was the Bank’s reckless complacency that proved ruinous.

hellish winter

It wouldn’t be so bad if a public body watched over us all against the greedy oil giants.

This is Ofgem’s role. Instead, this exceptionally useless industry “watchdog” decides to raise the price cap twice as often, inflicting new miseries every three months.

Which side is he on? Clients? Or the oil giants and energy suppliers?

We are facing a hellish winter before we even consider the state the NHS is in. Who will help?

As Rishi and Liz discuss who is most likely to cause a recession we now know is inevitable, companies like Shell and BP are fooling us, offering staff bonuses for their ‘success’ taking advantage of Putin’s butcher shop.

We are in the midst of a crisis. The nation despairs of unaffordable bills and political chaos.

He is also angry. Some even warn of social unrest. Ministers should not underestimate the atmosphere.

We have no weeks or months to waste. We need an emergency budget now, with new measures to protect millions of people from hardship.

water racket

South East Water plans to introduce garden hose ban at midnight on August 12

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South East Water plans to introduce garden hose ban at midnight on August 12Credit: Getty

SPEAKING of toothless watchdogs, when will Ofwat get tough on water companies?

He wants to cut the leaks in half. . . by 2050. What is it for? Millions of gallons a day are wasted NOW, while half the country faces drought brakes.

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A quarter of suppliers do not meet leak reduction targets. Is anyone held responsible? No. Instead, executives receive eye-watering salaries, complete with bonuses.

The rot has set in.

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