Bank of England to warn living costs "will keep soaring for two years"


Bank of England to warn living costs 'will keep soaring for two years'

rounded off the worst four years for Britain’s economy,
outside the aftermath of war, since the 1830s – leaving the UK on the
brink of triple-dip recession.

‘The UK is set for a slow but sustained recovery,’ the Bank said last week.

Sir Mervyn has said the economy will ‘zig-zag’ in and out of growth for some time, a warning he may repeat on Wednesday.

He is also unlikely to rule out the possibility of a triple-dip recession.

GEORGE OSBORNE TO HOLD INFORMAL SUMMIT AT HIS HOME
George Osborne has summoned ministers to Dorneywood, his Buckinghamshire mansion (pictured)

George Osborne has summoned ministers to Dorneywood, his Buckinghamshire mansion (pictured)

George Osborne will hold an informal summit at his official country home today to try to prevent a repeat of last year’s ‘omnishambles’ Budget.

The Chancellor has summoned Treasury ministers and senior mandarins to Dorneywood, his Buckinghamshire mansion, to ‘stress test’ his plans.

A Treasury source said: ‘George would be the first to admit he took his eye off the ball last year.’