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The crisis we face is inequality, not just inflation

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This week, the Bank of England delivered updated economic forecasts that will be a hammer blow for millions who are already reeling from soaring living costs.

The bank now thinks inflation will keep rising higher and for longer than it previously thought - peaking at 13% early next year.

Other experts, like the Resolution Foundation, think it could hit 15%.

The economists’ answer to this is to - knowingly - bring about a recession, including by raising interest rates to the highest they’ve been in 27 years.

The real-world consequences of this? Energy bills of £300 a month for the average household. Families forced to skip meals. Pay cuts, job losses, and despair for thousands.

All this while the richest few will see growing interest on their savings make them even richer.

This is a........

© Evening Times

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