The National Institute of Economic and Social Research think-tank has accused Rishi Sunak of wasting £11 billion of taxpayers’ money by poorly managing the government’s debt payments.
An influential economics think-tank has accusedof wasting £11 billion of taxpayers’ money by poorly managing the government’s debt payments.
This helps keep inflation stable and fuels the engines of the economy by keeping borrowing costs down for families, businesses and the government. Those costs arise from interest the Bank must pay to its account holders, which goes up when investors on the other end of QE payments deposit the proceeds in their accounts.
The think-tank’s director, Professor Jagjit Chadha, says the rise was foreseeable as there were early signs that inflation would go up in the following months. Mr Sunak himself warned more than 18 months ago that the UK’s finances were ‘exposed’ to rises in inflation on the horizon.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rishi Sunak ‘wasted £11bn by paying too much interest’ on UK debtLabour accuse chancellor of wastefulness for failing to insure against interest rate rises
Read more »
Home menopause tests are waste of time and money, say doctorsUrine tests not predictive enough to tell whether a woman is going through the phase, experts warn
Read more »
New Muslim superheroes are springing from the pages of comic booksMuslim artists were long absent from the comic-book industry, and representations of Islam scarce. That is changing
Read more »
Foaming at the mouth: the superworms making a meal of polystyrene wasteNew research shows the gut of the Zophobas morio beetle larvae contains enzymes capable of breaking down the plastic, which is difficult to recycle
Read more »
Foaming at the mouth: the superworms making a meal of polystyrene wasteNew research shows the gut of the Zophobas morio beetle larvae contains enzymes capable of breaking down the plastic, which is difficult to recycle
Read more »