Browsing: The I

The i leads with the Bank of England’s decision to hike interest rates. The increase in interest rates to 2.25% means millions are facing a significant rise in their mortgage payments, the paper reports. The paper says Prime Minister Liz Truss and Mr Kwarteng are under pressure to prevent a “deep recession” with their “mini-budget” on Friday.

The i leads with a warning over Liz Truss’s tax cuts gamble.

Economists have warned that Ms Truss’s “gamble on tax cuts” risks damaging the value of the pound. The paper says the Institute for Fiscal Studies have also said plans to reverse national insurance and corporation tax increases could lead to government debt “spiralling out of control”.