The Independent - London, November 27th, 2002
SIR EDWARD George, threw his weight yesterday behind government plans to allow the public coffers to go further into the red because of the economic downturn. The Governor of the Bank of England said it would be "more sensible" to let borrowing rise than to cut public spending or raise taxes. His comments came ahead of today's pre-Budget report in which the Chancellor is expected to show he has decided to relax borrowing rules in the short term. Sir Edward, who was appearing before the Treasury Select Committee with other members of the Bank's Monetary Policy Committee, also indicated interes...
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