Lord Heseltine says Britain is ‘already running on borrowed time’

Speaking to “Trevor Philips on Sunday” this morning, former Deputy Prime Minister Michael Heseltine warned that rising inflation amidst the gas crisis will lead to a “significant increase” in interest rates, and more demand for taxpayers money.

Heseltine accused Johnson’s government of “lurching from crisis to crisis” and argued that problems within the energy industry “will come now fast and thick in the coming months”.

The former MP criticised the government for reneging on the promise of the Cameron years and failing to provide anything substantive in its place. This government, he added, is “patently not in control”.

Heseltine went on to criticise the lack of detail regarding the government’s levelling up agenda. While he admitted Johnson has “got the guts”, he argued that so far all “we’ve heard are words, and words don’t create wealth”.