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Bank of England governor warns weak growth eroding public finances
Original: Low growth and successive shocks erode public finances, Bank boss says https://www.standard.co.uk/business/business-news
Bank of England Governor Andrew Bailey has warned that low economic growth and a series of successive shocks are eroding the UK's public finances. Speaking ahead of the government's budget, he stressed that persistently weak growth limits the country's capacity to sustain spending and debt levels, putting pressure on Chancellor Rachel Reeves ahead of her fiscal statement.
Why now: The warning comes shortly before a UK budget, focusing attention on the squeeze weak growth puts on government finances.
Bank of EnglandAndrew BaileyUK governmentStandard
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- Low growth and successive shocks erode public finances, Bank boss says https://www.standard.co.uk/business/business-news/andrew-bailey-budget-governments-government-bank-of-england-b1300052.html # Business # Economy # Finance · the_standard@robot.villas · 5
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