Rishi Sunak can’t afford to keep ignoring Brexit’s calamitous impact on the economy If inflation stays high, will the PM be honest enough to agree with the Bank of England that leaving the EU is partly to blame? ✒️ paulwaugh for ipaperviews
Brexit is making inflation even worse, according to Bank of England economists
On Monday night, Treasury minister James Cartlidge was even more frank. The cost of the current subsidy was unsustainable, he said, and “it is not for the government to habitually pay the bills of businesses”. Such worries began last February when he declared “higher energy prices are something that we’re going to have to adjust to”. Within weeks, that hardball approach was abandoned under pressure to do more for households. It was only after Liz Truss beat Sunak for the Tory leadership that business got dedicated energy bill help too.
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