JOURNAL ARTICLE

Osborne Blamed for Worsening UK Debt by Spending QE Windfall.

  • Published In: Bloomberg.com, 2023. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Aldrick, Philip 3 of 3

Abstract

(Bloomberg) -- Britain's public finances would be in far better shape had former Chancellor of the Exchequer George Osborne stuck to his promise to use a windfall from quantitative easing to pay down debt, a senior official at the government's fiscal watchdog said. In 2012, when Osborne changed the rules on QE to sweep billions from the BOE to the Treasury, the government pledged that "income transferred should be used solely to pay down government debt.". [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2023/07, pN.PAG
  • Document Type:Article
  • Subject Area:Biography
  • Publication Date:2023
  • Accession Number:164900651
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