Steve Beasant

Liberal Democrat Prospective Parliamentary Candidate for Great Grimsby and Councillor for the East Marsh Learn more

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Vince Cable: interest rates frozen due to evaporating confidence

by Steve Beasant on 10 May, 2018

Responding to the Bank of England’s decision not to raise interest rates, Leader of the Liberal Democrats Vince Cable said: 

“It’s absolutely extraordinary that the Bank of England does not feel able to authorise a return to normal interest rates given the weaknesses of the economy, including dire construction figures and close to zero economic growth, when much of the rest of the world is booming.

“In reality the only reason to keep rates so low is the evaporating consumer and business confidence due to Brexit and the Conservatives’ mishandling of negotiations.”

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