Former Bank of England governor says government should ditch spending limits until crisis passes

Mervyn King, the Bank of England governor during the financial crisis, has told the government now is not the time to worry about record levels of national debt and that the furlough scheme could be needed throughout 2021.

In a warning to ministers that additional support for Britain’s virus-hit economy will be necessary over the winter while tough new local lockdowns are in place, Lord King said the government needed to step in to prevent lasting damage for jobs and growth.

Continue reading…

You May Also Like

Ukrainian and Russian casualties mount as battle for central Bakhmut rages

Ukrainian general says it is using opportunity to kill as many Russian…

Cristiano Ronaldo completes deal to join Saudi Arabian club Al Nassr

Portuguese forward joins on contract until June 2025 Ronaldo without club since…

Chinese city seeing half a million Covid cases a day – local health chief

The figures reported by Qingdao’s municipal health chief were in stark contrast…

Morrisons talks up ‘responsible’ buyers – but how sincere is it? | Nils Pratley

Praise for its would-be owners leaves the retailer with a possible dilemma…