“As the Bank of England’s latest report shows, there are growing material risks to financial stability, particularly from external sources. It is therefore no surprise that in his Mansion House speech last week, the Chancellor announced that the Bank would be given the power to lend over half a trillion pounds in order to shore up the UK’s financial system.
“However such measures alone do not address the underlying weaknesses of the UK economy referenced in today’s Financial Stability Report which makes Britain particularly vulnerable to global shocks, such as the G7’s largest current account deficit.
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