The winner of the Conservative Party leadership contest between Liz Truss and Rishi Sunak, one of whom will be named Britain's new prime minister, will be declared on September 5. PA
The winner of the Conservative Party leadership contest between Liz Truss and Rishi Sunak, one of whom will be named Britain's new prime minister, will be declared on September 5. PA
The winner of the Conservative Party leadership contest between Liz Truss and Rishi Sunak, one of whom will be named Britain's new prime minister, will be declared on September 5. PA
The winner of the Conservative Party leadership contest between Liz Truss and Rishi Sunak, one of whom will be named Britain's new prime minister, will be declared on September 5. PA

Rishi Sunak says Liz Truss could put UK into 'inflation spiral'


Soraya Ebrahimi
  • English
  • Arabic

Liz Truss must choose between her unfunded £50 billion ($59bn) tax cuts or providing cost-of-living support — or risk plunging the economy into an “inflation spiral”, Rishi Sunak has warned.

The foreign secretary would increase borrowing to “historic and dangerous levels”, and place public finances in to “serious jeopardy”, if she attempts both, the Tory leadership candidate said.

Mr Sunak made the comments after Ms Truss, the front-runner to be the next UK prime minister, signalled she could help firms and households with rising energy bills with direct support this winter.

She was looking at assistance “across the board”, despite in the past insisting she was focused on tax cuts rather than what she termed “giving out handouts”.

"Liz's plans are promising the earth to everybody. I don't think you can have your cake and eat it. I don't think life is that simple, and I think her plan risks making everything worse," he said on Monday.

Ms Truss has argued that tax cuts will help to grow the UK's economy and boost prosperity.

The former chancellor also fuelled speculation that he may decline to serve in any Truss administration if defeated, as he suggested that ministers need to agree with a prime minister on the "big things".

Ms Truss, who is the frontrunner to replace Boris Johnson as prime minister, was urged to be more transparent with her plans for an emergency budget to address the cost-of-living crisis.

Mr Sunak insisted he is receiving a "warm reception" while campaigning even as he acknowledged that some Tory Party members are still angry at him for quitting Mr Johnson's Government.

The former chancellor said: "If I actually spent all my time looking at the polls or reading newspapers, I probably wouldn't get out of bed in the morning to do all these things."

The Sunak campaign said their rivals could trigger a dangerous bout of higher prices on a day when Citi warned that the UK faced an inflationary peak of 18.6 per cent, virtually double current levels, by January.

“The reality is that Truss cannot deliver a support package as well as come good on £50 billion worth of unfunded, permanent tax cuts in one go.

“To do so would mean increasing borrowing to historic and dangerous levels, putting the public finances in serious jeopardy and plunging the economy into an inflation spiral.”

UK Conservatives on the leadership campaign trail — in pictures

The row comes before Ofgem’s announcement on Friday when the regulator is expected to raise the cap on energy bills from £1,971 to about £3,600.

The former chancellor’s team also seized on reports that Ms Truss is not planning to ask the independent Office for Budget Responsibility for a forecast ahead of the emergency budget she is planning for next month.

“It’s no wonder they want to avoid independent scrutiny of the OBR in their emergency budget — they know you can’t do both and it’s time they came clean about that now,” Mr Sunak’s campaign said.

Ms Truss’s economic vision and her reported plans for the OBR, which is required to produce two forecasts a year, is coming under increasing attacks from Tory critics.

“The Bank of England’s devastating outlook for the economy contrasts with Liz’s optimism — for her to now prevent the OBR doing proper analysis of the facts would seem to indicate complete loss of confidence in the policy she is advocating," Lord Griffiths, the Conservative peer who served as Margaret Thatcher’s head of policy, said.

Conservative heavyweight Michael Gove warned in an article for The Times that Ms Truss was on a “holiday from reality” with her plans for tax cuts during an economic crisis as he endorsed Mr Sunak.

Mr Gove, who served as levelling-up secretary until being sacked by Boris Johnson before his resignation as Tory leader, said Ms Truss’s vision puts the “stock options of FTSE 100 executives” before the nation’s poorest.

Everything you need to know about Liz Truss - video

Business Secretary Kwasi Kwarteng, a close ally of Ms Truss who is tipped to be her chancellor, insisted there would be fresh support this winter as energy bills soar.

“I understand the deep anxiety this is causing. As winter approaches, millions of families will be concerned about how they are going to make ends meet,” he wrote in The Mail.

“But I want to reassure the British people that help is coming.”

Ms Truss expressed optimism for the economy, saying there is “too much talk that there’s going to be a recession”, as she insisted an economic slump is not inevitable despite the Bank of England's forecast.

Everything you need to know about Rishi Sunak - video

In an interview with the Sun on Sunday, she said she was looking at help “across the board” in a hint that there could be more support for businesses and households.

So far, she has focused on cutting taxes, such as an immediate reversal of the national insurance increased, while Mr Sunak has focused on trying to bring down rising inflation.

Our legal consultants

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

'Spies in Disguise'

Director: Nick Bruno and Troy Quane

Stars: Will Smith, Tom Holland, Karen Gillan and Roshida Jones 

Rating: 4 out of 5 stars

RESULTS

5pm: Handicap (PA) Dh70,000 1,400m
Winner: AF Tathoor, Tadhg O’Shea (jockey), Ernst Oertel (trainer)
5.30pm: Handicap (TB) Dh70,000 1,000m
Winner: Dahawi, Antonio Fresu, Musabah Al Muhairi
6pm: Maiden (PA) Dh70,000 2,000m
Winner: Aiz Alawda, Fernando Jara, Ahmed Al Mehairbi
6.30pm: Handicap (PA) Dh70,000 2,000m
Winner: ES Nahawand, Fernando Jara, Mohammed Daggash
7pm: Maiden (PA) Dh70,000 1,600m
Winner: Winked, Connor Beasley, Abdallah Al Hammadi
7.30pm: Al Ain Mile Group 3 (PA) Dh350,000 1,600m
Winner: Somoud, Connor Beasley, Ahmed Al Mehairbi
8pm: Handicap (PA) Dh70,000 1,600m
Winner: Al Jazi, Fabrice Veron, Eric Lemartinel

MATCH INFO

Manchester United 2
(Martial 30', McTominay 90 6')

Manchester City 0

SCHEDULE

Thursday, December 6
08.00-15.00 Technical scrutineering
15.00-17.00 Extra free practice

Friday, December 7
09.10-09.30 F4 free practice
09.40-10.00 F4 time trials
10.15-11.15 F1 free practice
14.00 F4 race 1
15.30 BRM F1 qualifying

Saturday, December 8
09.10-09.30 F4 free practice
09.40-10.00 F4 time trials
10.15-11.15 F1 free practice
14.00 F4 race 2
15.30 Grand Prix of Abu Dhabi

Premier League results

Saturday

Tottenham Hotspur 1 Arsenal 1

Bournemouth 0 Manchester City 1

Brighton & Hove Albion 1 Huddersfield Town 0

Burnley 1 Crystal Palace 3

Manchester United 3 Southampton 2

Wolverhampton Wanderers 2 Cardiff City 0

West Ham United 2 Newcastle United 0

Sunday

Watford 2 Leicester City 1

Fulham 1 Chelsea 2

Everton 0 Liverpool 0

WHAT%20ARE%20THE%20PRODUCTS%20WITHIN%20THE%20THREE%20MAJOR%20CATEGORIES%3F
%3Cp%3E%3Cstrong%3EAdvanced%20materials%3A%3C%2Fstrong%3E%20specifically%20engineered%20to%20exhibit%20novel%20or%20enhanced%20properties%2C%20that%20confer%20superior%20performance%20relative%20to%20conventional%20materials%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAdvanced%20components%3A%3C%2Fstrong%3E%20includes%20semiconductor%20components%2C%20such%20as%20microprocessors%20and%20other%20computer%20chips%2C%20and%20computer%20vision%20components%20such%20as%20lenses%20and%20image%20sensors%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAdvanced%20products%3A%3C%2Fstrong%3E%20includes%20personal%20electronics%2C%20smart%20home%20devices%20and%20space%20technologies%2C%20along%20with%20industry-enabling%20products%20such%20as%20robots%2C%203D%20printing%20equipment%20and%20exoskeletons%3C%2Fp%3E%0A%3Cp%3E%3Cem%3ESource%3A%20Strategy%26amp%3B%3C%2Fem%3E%3C%2Fp%3E%0A
FIXTURES

All times UAE ( 4 GMT)

Friday
Saint-Etienne v Montpellier (10.45pm)

Saturday
Monaco v Caen (7pm)
Amiens v Bordeaux (10pm)
Angers v Toulouse (10pm)
Metz v Dijon (10pm)
Nantes v Guingamp (10pm)
Rennes v Lille (10pm)

Sunday
Nice v Strasbourg (5pm)
Troyes v Lyon (7pm)
Marseille v Paris Saint-Germain (11pm)

Specs

Engine: Dual-motor all-wheel-drive electric

Range: Up to 610km

Power: 905hp

Torque: 985Nm

Price: From Dh439,000

Available: Now

The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet
Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
2025 Fifa Club World Cup groups

Group A: Palmeiras, Porto, Al Ahly, Inter Miami.

Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.

Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.

Group D: Flamengo, ES Tunis, Chelsea, Leon.

Group E: River Plate, Urawa, Monterrey, Inter Milan.

Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.

Group G: Manchester City, Wydad, Al Ain, Juventus.

Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.

UAE currency: the story behind the money in your pockets
F1 The Movie

Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem

Director: Joseph Kosinski

Rating: 4/5

UK-EU trade at a glance

EU fishing vessels guaranteed access to UK waters for 12 years

Co-operation on security initiatives and procurement of defence products

Youth experience scheme to work, study or volunteer in UK and EU countries

Smoother border management with use of e-gates

Cutting red tape on import and export of food

if you go

The flights

Direct flights from the UAE to the Nepalese capital, Kathmandu, are available with Air Arabia, (www.airarabia.com) Fly Dubai (www.flydubai.com) or Etihad (www.etihad.com) from Dh1,200 return including taxes. The trek described here started from Jomson, but there are many other start and end point variations depending on how you tailor your trek. To get to Jomson from Kathmandu you must first fly to the lake-side resort town of Pokhara with either Buddha Air (www.buddhaair.com) or Yeti Airlines (www.yetiairlines.com). Both charge around US$240 (Dh880) return. From Pokhara there are early morning flights to Jomson with Yeti Airlines or Simrik Airlines (www.simrikairlines.com) for around US$220 (Dh800) return. 

The trek

Restricted area permits (US$500 per person) are required for trekking in the Upper Mustang area. The challenging Meso Kanto pass between Tilcho Lake and Jomson should not be attempted by those without a lot of mountain experience and a good support team. An excellent trekking company with good knowledge of Upper Mustang, the Annaurpuna Circuit and Tilcho Lake area and who can help organise a version of the trek described here is the Nepal-UK run Snow Cat Travel (www.snowcattravel.com). Prices vary widely depending on accommodation types and the level of assistance required. 

Some of Darwish's last words

"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008

His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.

COMPANY PROFILE

Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed 

Titanium Escrow profile

Started: December 2016
Founder: Ibrahim Kamalmaz
Based: UAE
Sector: Finance / legal
Size: 3 employees, pre-revenue  
Stage: Early stage
Investors: Founder's friends and Family

Dubai World Cup nominations

UAE: Thunder Snow/Saeed bin Suroor (trainer), North America/Satish Seemar, Drafted/Doug Watson, New Trails/Ahmad bin Harmash, Capezzano, Gronkowski, Axelrod, all trained by Salem bin Ghadayer

USA: Seeking The Soul/Dallas Stewart, Imperial Hunt/Luis Carvajal Jr, Audible/Todd Pletcher, Roy H/Peter Miller, Yoshida/William Mott, Promises Fulfilled/Dale Romans, Gunnevera/Antonio Sano, XY Jet/Jorge Navarro, Pavel/Doug O’Neill, Switzerland/Steve Asmussen.

Japan: Matera Sky/Hideyuki Mori, KT Brace/Haruki Sugiyama. Bahrain: Nine Below Zero/Fawzi Nass. Ireland: Tato Key/David Marnane. Hong Kong: Fight Hero/Me Tsui. South Korea: Dolkong/Simon Foster.

Brief scoreline:

Manchester United 0

Manchester City 2

Bernardo Silva 54', Sane 66'

Know your camel milk:
Flavour: Similar to goat’s milk, although less pungent. Vaguely sweet with a subtle, salty aftertaste.
Texture: Smooth and creamy, with a slightly thinner consistency than cow’s milk.
Use it: In your morning coffee, to add flavour to homemade ice cream and milk-heavy desserts, smoothies, spiced camel-milk hot chocolate.
Goes well with: chocolate and caramel, saffron, cardamom and cloves. Also works well with honey and dates.

In numbers: China in Dubai

The number of Chinese people living in Dubai: An estimated 200,000

Number of Chinese people in International City: Almost 50,000

Daily visitors to Dragon Mart in 2018/19: 120,000

Daily visitors to Dragon Mart in 2010: 20,000

Percentage increase in visitors in eight years: 500 per cent

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Alaan%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202021%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Parthi%20Duraisamy%20and%20Karun%20Kurien%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20FinTech%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20%247%20million%20raised%20in%20total%20%E2%80%94%20%242.5%20million%20in%20a%20seed%20round%20and%20%244.5%20million%20in%20a%20pre-series%20A%20round%3Cbr%3E%3Cbr%3E%3C%2Fp%3E%0A
Ferrari 12Cilindri specs

Engine: naturally aspirated 6.5-liter V12

Power: 819hp

Torque: 678Nm at 7,250rpm

Price: From Dh1,700,000

Available: Now

Updated: August 22, 2022, 3:50 PM`