Bank of England
The magic money tree is real: Treasury confirms taxes are not needed to fund government spending
Richard Murphy: “What we actually have here is…an admission that the government can create money at will. So the 'magic money tree' exists, as a matter of fact.”
A LETTER from the Economic Secretary of the Treasury has confirmed that the government does not need to raise money from taxation to fund government spending, leading to advocates of increased public investment to declare “the magic money tree exists, as a matter of fact”.
Economists warn of spiralling private debt as Brexit slowdown bites deeper
IMF downgrades UK growth forecast
ECONOMISTS have raised worries over growing private debt and depressed growth as austerity policies and Brexit uncertainties continue to mount.
The Bank of England has told banks and credit card companies that it will take action over a “spiral of complacency” that is pushing up private consumer debt and endangering the stability of the economy. The UK central bank fears that wreck less loaning practices are adding to the problem, which is also being fuelled by falling wages and other incomes.
Mark Carney: Unless world leaders act, climate change could trigger financial crisis
Mark Carney says the opportunity to act on climate change "is finite and shrinking"
THE governor of the Bank of England Mark Carney forewarned world leaders that idleness in the face of climate change could result in a further financial crisis and falling living standards.
The move comes as part of a plea on the international community to act on global warming and, specifically, to do more to encourage corporate emissions transparency.
Bank of England to be investigated by Serious Fraud Office over financial deals
Embarrassment for regulator as fraud investigation is launched into BoE conduct
LENDING by the Bank of England (BoE) during the financial crisis will face investigation by the Serious Fraud Office (SFO), following allegations of financial manipulation.
The UK's central bank lent money in 'liquify auctions' to banks on a wider definition of assets than had been allowed prior to 2007.