Bank of England faces calls to overhaul ‘restrictive’ remit

Move will accelerate recovery from coronavirus crisis, says Policy Exchange thinktank

The government should cut taxes and overhaul the Bank of England’s “restrictive” remit as part of a radical new pro-growth strategy to accelerate the recovery from the coronavirus crisis, according to a free market thinktank with close ties to the Conservative party.

Policy Exchange, which was co-founded by Cabinet Office minister Michael Gove, warned ministers to take a relaxed view of rising levels of debt and use cheap credit to boost the economy and protect jobs.

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Move will accelerate recovery from coronavirus crisis, says Policy Exchange thinktankCoronavirus – latest updatesSee all our coronavirus coverageThe government should cut taxes and overhaul the Bank of England’s “restrictive” remit as part of a radical new pro-growth strategy to accelerate the recovery from the coronavirus crisis, according to a free market thinktank with close ties to the Conservative party.Policy Exchange, which was co-founded by Cabinet Office minister Michael Gove, warned ministers to take a relaxed view of rising levels of debt and use cheap credit to boost the economy and protect jobs. Continue reading…

Bank of England, Economics, Economic recovery, Business, Economic policy, Politics, UK news, Economic growth (GDP), Coronavirus outbreak

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