Liz Truss accused the Bank of England of “talking Britain into recession” as she stepped up her war of words with Andrew Bailey, the institution’s governor, last night.
The Foreign Secretary dismissed the bank’s warning that Britain would slide into negative growth at the end of this year amid the worst pressure on living standards for more than 60 years.
She suggested that by issuing such a stark warning, the bank made a recession more likely as people would curb their spending to protect themselves from the downturn.
“I know there are tough forecasts out there, but forecasts are not destiny,” she told a Conservative leadership meeting in Eastbourne. What we shouldn’t be doing is talking ourselves into a recession.”