Recession Would Be An ‘Utter Human Disaster' Warns Duncan Smith

LIZ Truss supporter Sir Iain Duncan Smith has warned it would be an “utter human disaster” to allow a recession on top of a cost-of-living crisis.

-  Sam Lister

And the former Tory leader said low taxation must be the top priority for whoever becomes Prime Minister – to stop Britain facing even more economic pain.

Ms Truss, who yesterday faced rival Rishi Sunak at hustings in Cheltenham, insists she will swiftly introduce tax cuts if she wins the leadership race.

Mr Sunak says the move would be the wrong thing to do.

Sir Iain warned: “Right now we face the potential of a recession. If you have a recession on top of this cost-of-living crisis, it would be an utter human disaster.”

He said Ms Truss would do “whatever is necessary” to help people and stressed avoiding another economic shock was vital. “Liz Truss has made it clear she needs to make sure we don’t add to the burden of cost of living by having an economy go into a recession, which would be a deep one,” he said.

“We need to make sure the burden of taxation is lower. That’s our priority…whoever wins.”

The Bank of England has warned the UK is facing the longest recession since the financial crisis, with inflation set to soar to more than 13 per cent.