Bank of England Must Stop ‘Depending on Kindness of Strangers’ to Bolster Economy

We’re fast approaching the eighth anniversary of UK interest rates being lowered to 1%. This is unprecedented, as is QE. This “unconventional monetary policy” is having severe economic consequences, argues Brian Sturgess for the Centre for Policy Studies in Stop Depending on the Kindness of Strangers.

In the foreword, Sir Martin Jacomb writes: “The idea that credit should be cheap, that savings are pointless, and that borrowing levels do not matter, is contrary to common sense. Harm is being done to individuals, to businesses and to the next generation.”

Sturgess warns these policies have failed to stimulate economic growth and encouraged ‘zombie capitalism’ and the rebuilding of corporate balance sheets ahead of productive investment, among multiple other side effects, contributing to the kind of unfairness that Theresa May and Donald Trump have both highlighted. It’s time to grow up and return monetary policy to normal, or we could be in for even greater pain.

Content produced and sponsored by the Centre for Policy Studies.

Seen Elsewhere



Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Boris as Hulk…

‘Banner might be bound in manacles, but when provoked he would explode out of them. Hulk always escaped, no matter how tightly bound in he seemed to be – and that is the case for this country. We will come out on October 31 and we will get it done.’

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.