Former Bank of England governor says government should ditch spending limits until crisis passes

Mervyn King, the Bank of England governor during the financial crisis, has told the government now is not the time to worry about record levels of national debt and that the furlough scheme could be needed throughout 2021.

In a warning to ministers that additional support for Britain’s virus-hit economy will be necessary over the winter while tough new local lockdowns are in place, Lord King said the government needed to step in to prevent lasting damage for jobs and growth.

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Mervyn King says Covid furlough scheme may be needed throughout 2021
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