The two candidates vying to become the UK’s next prime minister continued to clash on economic policies on Saturday.
Liz Truss promised an emergency budget to immediately cut taxes, while Rishi Sunak said he will “go further” with payments to help households with increasing energy bills.
It comes after energy consultancy Auxilione released a forecast on Saturday saying the price cap on a typical annual energy bill could hit around £4,700 ($5,670) by April 2023. The forecast is almost four times the amount in April this year of £1,277 ($1,540).
The soaring energy bills are accompanied by mounting inflation that is set to peak at more than 13 percent later this year, according to a forecast by the Bank of England, which also predicted a five-quarter economic decline, the longest recession since 2008….