Bank boss: Borrowing by Brown made crisis worse.
To all labour MPs will you sink or swim with him as leader?
THE bank crisis was made worse by Gordon Brown's decision to let borrowing rip, Bank of England Mervyn King suggested today.
In a surprising attack on the Prime Minister's handling of the economy, Mr King said Britain's borrowing levels were "too high" when the credit crunch exploded last year.
"I do think public debt matters. We get to this crisis with levels of public borrowing which were too high and that made it difficult," he told the Treasury select committee. Mr King also hinted that the Government had failed to give him sufficient powers to demand more information from banks to check how healthy they were and their risk to the country's financial stability.
What's so surprising? Hardly a day passes without further evidence of Gordon Brown's serial incompetence and of course, that's why Crash flash Gordon always puts the blame onto other countries. Really, Britain is in the worst spot, worst prepared, high tax low investments low economy. Crash flash Gordon!
Leave Gordon alone! He was very prudent all those years, leaving the UK best placed to face a recession caused by America.
ReplyDeleteWell said, Gordon Brown is to blame. When we had the good times the buffoon never saved a penny and now we have nothing but Labours ever increasing debt.
ReplyDeleteGordon Brown will fling money at anything if he thinks it will win him votea.
He encouraged the false economy, surrounded himself with the kings of the new economy, namely hedgefund managers. deregulated the market, and even slipped in his own wheeze, of PFI/PPP the man is a serial chancer and a liability to the island.
ReplyDeleteHe started the ball rolling, He started tehe competition between the financial headquarters of the world, He brought this upon the country.