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Government Borrowing Leads to Inflation, UK’s Sunak Says

Started by Epoch-Times-Bot, Nov 05, 2022, 10:41 AM

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Epoch-Times-Bot

Nov 05, 2022, 10:41 AM
Government Borrowing Leads to Inflation, UK's Sunak Says

The government “cannot do everything” because big government borrowing ultimately leads to soaring inflation and high interest rates, the UK’s Prime Minister Rishi Sunak said on Friday.
It comes after the Bank of England raised its base interest rate to 3 percent and forecasted a two-year recession.
In an interview with The Times of London, Sunak said he would “do absolutely everything” he can to limit the rise in mortgage rates, adding, “I think inflation is the number one enemy.”
The Times said the prime minister refused to rule out “a return to austerity” or to comment on any specifics in fiscal policies ahead of his chancellor’s autumn budget announcement scheduled on Nov. 17, saying there are “difficult decisions to come,” but people will “be able to judge” it as being “a fair approach.”...

Source: Government Borrowing Leads to Inflation, UK's Sunak Says

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