King Cautioned Against More Spending
The governor of the Bank of England—Mervyn King, has warned against further significant government spending on stimulating the economy.
As official figures showed a surprise rise in consumer price inflation, Mr King is questioning the wisdom of increasing debt by spending more, given the high levels of UK debt due to the recent stimulus packages. But he said that there was still room for further “targeted and selected measures” in some aspects of the economy.
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