ONLY a Tory millionaire who “cannot possibly know what it’s like to be on the receiving end of unemployment, wage decreases and housing insecurity” could be comfortable with the thought of another recession, ex-Labour leader Jeremy Corbyn said today.

The Islington North MP joined figures across the labour movement to condemn Chancellor Jeremy Hunt, who has insisted he would be content with the Bank of England risking yet another downturn by hiking interest rates – as long as it killed inflation.

In a Sky News interview which evoked the cruellest excesses of the Thatcher era, Mr Hunt claimed the “only path to sustainable growth” is to bring down the high prices behind the worst cost-of-living crisis in decades.