MPC member warns the government to get its finances in order as public debt spirals.
The government must reign in its spending, according to Bank of England deputy governor Charles Bean. Speaking to the Western Mail this week, Bean warned: “As the economy starts to recover it will be necessary to put the public finances on a more sustainable footing”.
According to the Office of National Statistics, the Treasury borrowed around £13bn last month – the largest amount for that month since records began.
The government’s debt is eating into funds that could be spent on public services such as schools, hospitals and police, according to the National Institute of Economic and Social Research (NIESR), which recently announced th...
About Gina Dyer
I've been a journalist for four years, writing on a wide variety of topics from business and finance to travel, culture and celebrities. I began my career as an editorial assistant for Palladian Publications, a B2B publisher specialising in technical magazines for professionals in primary industries. I later moved into consumer magazines as a staff writer for French Magazine, a monthly travel publication aimed at Francophiles, and was part of the launch team for The Traveller in France, a quarterly magazine produced for the French tourist board. I was also a regular contributor to online travel portal Homesworldwide.co.uk, and later worked with customer publishers Future Plus as a freelance production editor, before joining Sift Media in January 2009. I am currently Deputy Editor of AccountingWEB.co.uk.