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Newspaper headlines: The big squeeze and recession on the way | Newspaper headlines: The big squeeze and recession on the way |
(about 16 hours later) | |
Bank of England Governor Andrew Bailey comes under fire in the Daily Mail | |
The stark warning of recession from the Bank of England features on all the front pages. | The stark warning of recession from the Bank of England features on all the front pages. |
The Financial Times says the "grim" forecasts suggest Britain is facing a much bleaker economic outlook than other developed economies - with households more exposed to the energy price hikes than in the US, and less protected by government measures than those in the eurozone. | The Financial Times says the "grim" forecasts suggest Britain is facing a much bleaker economic outlook than other developed economies - with households more exposed to the energy price hikes than in the US, and less protected by government measures than those in the eurozone. |
Under the headline "Britain slides into crisis", the Times describes the economic forecasts as "drastic" - and says the country is facing the "worst squeeze on living standards for more than 60 years". | Under the headline "Britain slides into crisis", the Times describes the economic forecasts as "drastic" - and says the country is facing the "worst squeeze on living standards for more than 60 years". |
Its economics editor writes that the Bank of England "unleashed a catastrophic set of forecasts that would have been scarcely believable a year ago". "Get used to the grim new reality" is the advice. | Its economics editor writes that the Bank of England "unleashed a catastrophic set of forecasts that would have been scarcely believable a year ago". "Get used to the grim new reality" is the advice. |
The Daily Telegraph focuses on the "very big shock" for families, predicting the recession will cause a "record drop in income". | The Daily Telegraph focuses on the "very big shock" for families, predicting the recession will cause a "record drop in income". |
It comments that after 12 years of Conservative-led governments, the economic record of the party has been distinctly underwhelming. | It comments that after 12 years of Conservative-led governments, the economic record of the party has been distinctly underwhelming. |
The paper suggests the party must be honest about the enormity of the challenge ahead and the consequences of persisting with a failed status quo. | The paper suggests the party must be honest about the enormity of the challenge ahead and the consequences of persisting with a failed status quo. |
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The Daily Mail warns the Bank is facing a ferocious backlash - with critics saying Bank officials should "rue the day" they decided not to raise interest rates last year. | The Daily Mail warns the Bank is facing a ferocious backlash - with critics saying Bank officials should "rue the day" they decided not to raise interest rates last year. |
Under the headline, "Banker who's running out of credit" the paper says Bank Governor Andrew Bailey was "forced to deny he was asleep at the wheel". | Under the headline, "Banker who's running out of credit" the paper says Bank Governor Andrew Bailey was "forced to deny he was asleep at the wheel". |
The paper's city editor questions whether, in choppy seas, the Bank has the right captain. | The paper's city editor questions whether, in choppy seas, the Bank has the right captain. |
The i has a striking red graphic which shows the rising inflation rates. The paper says a leading economist has declared it the "worst day for the British economy in my lifetime". | The i has a striking red graphic which shows the rising inflation rates. The paper says a leading economist has declared it the "worst day for the British economy in my lifetime". |
The Daily Mirror's headline is "Economy in Freefall" and refers to Boris Johnson and Chancellor Nadhim Zahawi as being "missing in action" - as they are both away on family breaks. | The Daily Mirror's headline is "Economy in Freefall" and refers to Boris Johnson and Chancellor Nadhim Zahawi as being "missing in action" - as they are both away on family breaks. |
"Looming crisis but no-one in charge" is the paper's conclusion. | "Looming crisis but no-one in charge" is the paper's conclusion. |
"The big squeeze" is the headline in the Metro. The paper says rising interest rates mean people with £200,000 mortgages could be facing an extra £50 on their monthly payments as well as facing rising costs on food and energy. | "The big squeeze" is the headline in the Metro. The paper says rising interest rates mean people with £200,000 mortgages could be facing an extra £50 on their monthly payments as well as facing rising costs on food and energy. |
The Guardian carries a special report on extreme weather impacted by human-driven global heating | |
The Guardian's front page is dominated by a striking picture of a man standing on a house roof in front of a wildfire under the headline "The burning issue", as the paper carries a special report on extreme weather events driven by global heating. | The Guardian's front page is dominated by a striking picture of a man standing on a house roof in front of a wildfire under the headline "The burning issue", as the paper carries a special report on extreme weather events driven by global heating. |
It also reports that the source of the Thames has dried up for what experts say is the first time they have seen - shifting from the river's official start point outside Cirencester in Gloucestershire to about five miles downstream. | It also reports that the source of the Thames has dried up for what experts say is the first time they have seen - shifting from the river's official start point outside Cirencester in Gloucestershire to about five miles downstream. |
The Telegraph reports that people are giving staycations "a break" and the holidays-at-home boom is over. | The Telegraph reports that people are giving staycations "a break" and the holidays-at-home boom is over. |
It says "staycation fatigue" has resulted in a slump in bookings at popular UK destinations - and even the prospect of airport delays and flight cancellations has not put people off heading abroad. | It says "staycation fatigue" has resulted in a slump in bookings at popular UK destinations - and even the prospect of airport delays and flight cancellations has not put people off heading abroad. |
SUMMER OF ADVENTURE: Activities to get your kids outdoors and learning about the environment | SUMMER OF ADVENTURE: Activities to get your kids outdoors and learning about the environment |
BEE'S KNEES: Is manuka honey actually healthier than ordinary honey? | BEE'S KNEES: Is manuka honey actually healthier than ordinary honey? |