BANK OF ENGLAND: Raised interest rates by half a point.

The PM expanded his view: “The reason interest rates are going up is because inflation is too high. This is something that makes everybody poorer, that’s what inflation does. That’s why we’ve got to grip it, we’ve got to reduce it and interest rates are a part of that.’

Sunak reiterated the enormity of the problem: “Now, I always said this would be hard ­ and clearly it’s got harder over the past few months ­ but it’s important that we do do that.’

Yesterday’s figures showed that inflation remained at 8.7 per cent in

May, when all expectations predicted, it would fall to 8.4 per cent. This is still a long, long way away from the Bank’s target of 2 per cent.

A spokesperson on behalf of the MPC said: “There has been significant upside news in recent data that indicates more persistence in the inflation process, against the backdrop of a tight labour market and continued resilience in demand.”

The Bank of England confirmed that it would continue to monitor the situation and if deemed necessary would push interest rates higher.

RECENT information supplied by German online platform Statista has revealed that despite (or perhaps because of) Brexit, there are almost 300,000 British expatriates settled in Spain.

Perhaps not a real surprise as much of the holiday boom of the 1960s was created by comparatively wealthy British tourists wanting to find a holiday spot in the sun and Spain was the first and easiest choice.

Top of the population chart is Andalucia which runs across eight Provinces from Sevilla to Granada and boasts more than 92,000 British residents (a massive 31.44 per cent of those living in Spain) with the largest number settled in the Costa del Sol.

Many Brits like to have the reassurance of being able to be served by English speakers which is why there are so many British owned businesses across the area, even though the Spanish are particularly adapt at speaking English as well as many other languages.

UK, decent weather most of the time, British schools, cheapish regular flights and a less frantic pace of life, depending on where you choose to settle, Andalucia deservedly takes top spot.