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Morgan Stanley economists have predicted that India could emerge as Asia's strongest economy in 2022-2023 as it is best-positioned to generate robust domestic demand, helped by economic policy reforms, a young workforce and business investments.

Liz Truss vowed to do “all that I can” to help households struggling with the cost of living crisis, in a change of tone that her Conservative leadership rival Rishi Sunak described as a “major U-turn on the biggest issue facing the country”.