UK Government Told to Act Now over Cost of Living Crisis

The British government came under pressure on Monday to set out plans immediately to support families through a mounting cost of living crisis, with a leading business group and former prime minister saying a political vacuum cannot be allowed to last, Reuters reported. The Bank of England warned on Thursday a long recession was on its way as energy prices surge to unprecedented levels, pushing inflation to a 40-year high of 9.4% in June and leaving many households on the brink of economic hardship. But the political response has been stymied by the race to replace Boris Johnson as prime minister after he was forced to quit over a string of scandals. While he remains in office, he has recently been on holiday and his successor will not be announced until Sept. 5. Former Labour Prime Minister Gordon Brown and the Confederation of British Industry (CBI) said the country could no longer afford to wait for a new leader, with action needed now before energy prices leap again by an expected 70% in October. Read more.