Tory leadership hopeful on the economy, inflation, Ukraine

British conservative leader hopeful Rishi Sunak said his party needed to "get real and fast" in tackling issues with the economy.
The Bank of England announced its biggest interest rate increase in 27 years on Thursday as it forecast that the conflict in Ukraine would fuel further inflation and tip the U.K. economy into a prolonged recession. Speaking in a Sky News debate as he battles for the top spot in the party and to be the UK's next Prime Minister, Sunak said proposals from his fellow candidate, Liz Truss, to tackle growing inflation would put fuel on the fire and cause misery for millions. He added that he was worried the plans would make the situation worse. The pair are battling to succeed Boris Johnson, who quit as leader of the ruling Conservatives on July 7th.