The Telegraph
The Treasury may be planning to raise the limit on public borrowing in an effort to give it “room for manoeuvre” for a potential rescue operation for the banking system, a leading expert has suggested. Alistair Darling’s review of the borrowing rules he inherited from Gordon Brown may have been influenced by plans under consideration for a rescue of struggling mortgage banks, according to Peter Spencer, economic adviser to the Ernst & Young Item Club. It comes amid growing disquiet about the funding position of Britain’s biggest mortgage lenders, with banking groups urging the Treasury or Bank of England to extend its mortgage support scheme to cover home loans issued since the start of the year. More
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July 22nd, 2008 at 3:25 pm
[…] VFreshers.com wrote an interesting post today onHere’s a quick excerptThe Telegraph The Treasury may be planning to raise the limit on public borrowing in an effort to give it “room for manoeuvre” for a potential rescue operation for the banking system, a… [[ This is a content summary only. Visit my website for full links, other content, and more! ]] […]