We’re crying out for a firm strategy through this crisis

AUGUST sunshine cannot disguise the dark ferocity of the looming economic storm. What lies ahead could be one of the harshest downturns in modern British history.

- Leo McKinstry

Last week, the Bank of England warned inflation could reach 13 per cent by the end of the year, heralding five successive quarters of recession which would shrink our national output by two per cent.

Even worse, typical household energy bills are predicted to rise by 70 per cent to over £3,500 in October, followed by another increase to a colossal £4,400 in January. It is a savage burden that could form part of the biggest squeeze on British living standards for 60 years.

In the face of this turmoil, the ruling Conservative Party might have been expected to display a spirit of dynamic urgency. The smack of firm government is exactly what the country needs.

Yet the Tories are in danger of resorting to wishful thinking. The attention of most ministers, MPs and activists is focused on the leadership contest, which has been characterized by neither realism nor candour.

CONTENDERS Foreign Secretary Liz Truss and former Chancellor Rishi Sunak, are meant to be among Westminster’s leading heavyweights, but so far have shown little grasp of the enormity of the challenge facing Britain.