Trussonomics explained: Can Liz Truss save the economy?
There is no reason to believe that Liz Truss's tax policy would pay for itself or reduce inflation.
ByInflation
Inflation describes how much prices of goods and services are increasing (if they’re decreasing, this is known as deflation). In the UK the main measure of inflation is the Consumer Prices Index. The Office for National Statistics tracks the cost of living through the prices of items in a hypothetical “basket of goods” that includes everyday products and services. Here you can find all of our latest news, analysis and comment about inflation.
What does stagflation actually mean?
Inflation has hit double figures for the first time in 40 years, while the economy is shrinking.
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“I’m not cutting down on cups of tea”: the Brits refusing to pay their energy bills
The Don’t Pay UK protest movement is gathering momentum ahead of an 80 per cent rise in gas and electric…
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Food inflation is higher than at any time since 2008
Fresh produce increased in cost by 10.5 per cent in the 12 months up to August.
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Leader: A state of emergency
If Liz Truss enters No 10 next week, she is expected to bring the Brexit ultras with her and establish…
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Can your favourite pub afford to keep the lights on this winter?
Business electricity spending is set to rise rapidly in October.
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The UK’s broken food system requires radical change
Record inflation for milk and other essentials demands immediate action, but Britain’s food security needs more than a quick-fix.
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Can interest rate rises reduce the UK’s “astronomical” inflation?
Inflation is now predicted to rise above 18 per cent, despite six consecutive rate rises by the Bank of England.…
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How inflation is worse for women
Prices are rising faster for items aimed at women, who tend to be poorer already.
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Inflation could end the current economic model
The 50-year arrangement between producer economies and consumer economies is breaking down. What comes next?
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The UK’s inflation rate is higher than any other G7 country
Britain is the only major Western economy in which inflation has hit double digits.
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UK real wages have fallen at a record rate
Earnings remain below their 2008 level after falling 3 per cent over the past eight months.
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From drought to energy bills, inflation to the NHS, Britain is falling apart at the seams
In 2010 the Tories came to power under the slogan “We can’t go on like this”. This is the situation…
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Higher inflation spells danger for the UK’s public services
An extra £8.3bn will now be needed to maintain current public service spending levels.
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The top 1 per cent are the only group whose pay has grown faster than inflation
Pay growth at the top has reached 11 per cent while the bottom tenth of earners have seen their wages…
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The real reason our zombie government isn’t taking action on the cost of living
Better to wait and make political capital out of rescuing people when they’re on the brink.
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The UK is going into recession, and even Liz Truss might not be able to save it
The power politicians and the Bank of England have to bring down inflation is sadly very limited.
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Liz Truss says that an economic recession “is not inevitable”
The Foreign Secretary has suggested that the fiscal downturn could be averted with her planned tax cuts.
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The Bank of England is recklessly driving the UK into a deep recession
Rate rises will do little to control inflation but they will dramatically increase the threat of mass unemployment.
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How UK house prices are soaring above wage growth
Since January 2019 house prices have risen by 25.6 per cent – twice as fast as wages.
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