Reacting to the Bank of England’s Monetary Policy Committee decision today, Tom Railton, Director of Invest in Britain, responded:
“The UK’s poorly designed fiscal rules mean that the Bank of England’s decision to continue gilt sales today risks reducing the government’s room for manoeuvre and crowding out much-needed public investment.
“We urgently need to redesign these rules, and put in place a fiscal framework that supports the investment needed to rebuild our public services and create a green, modern economy which supports families, businesses and communities.”
“The government should address these flaws ahead of the Budget and put in place a process for wider reform of our anti-investment fiscal rules.”
[ENDS]