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What Recession? Truss Stares Down BOE’s Stark Economic Reality

Aug. 5, 2022, 8:39 AM

Liz Truss, the front-runner to become the next UK prime minister, said her plan to cut taxes could help stave off a recession after the Bank of England depicted a dire picture for the economy.

The central bank forecast on Thursday a deepening economic meltdown with the UK facing a contraction lasting more than a year because of rampant inflation. The stark assessment came just before Truss and opponent Rishi Sunak were questioned in a televised Sky News debate on what they’ll do to help. Truss hit back at the BOE’s “extremely worrying” outlook, but countered that a recession ...