Bank of England too slow cutting interest rates
Business Money group editor, Robert Lefroy commented: “The Bank was very late in addressing the inflationary challenges besetting the UK economy by raising interest rates and is now far too slow in easing the cost pressures on our SME sector by easing them.
Our SMEs have performed heroically in the teeth of a Bourbon style government that forgets just which sector of the economy pays for the huge bonus handouts that the Bank has just dished out to its IT staff. Thousands of bosses must be wishing they could do the same for their hard-working teams.
Something is very out of balance with the UK economy: it needs adjusting and fast. 99,000 new civil servants recruited since 2016 is the key symptom of a malaise that must not be allowed to continue unchallenged.”
