Liberal Democrats in Business

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Interest Rates: Britain Can't Borrow its Way Out of Trouble Forever

12.00.00am BST (GMT +0100) Thu 4th Sep 2003

Lib Dem Shadow Chancellor of the Exchequer, Matthew Taylor MP

Lib Dem Shadow Chancellor of the Exchequer, Matthew Taylor MP

Commenting on the Bank of England's decision to leave interest rates unchanged, Matthew Taylor MP, Liberal Democrat Shadow Chancellor, said:

"The Bank is torn between tackling runaway consumer debt on one hand and sluggish business investment on the other."

"Interest rates alone cannot rebalance the economy. The Government must start slashing through Gordon Brown's red tape and tax complications that hold business back."

"Britain can't borrow its way out of trouble forever."

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[Previous news story]: Ofwat Must Balance Interests of Environment and Consumers - Baker (Wed 3rd Sep 2003).
[Next news story]: UK Sells Hong Kong Instruments of Oppression and Security Equipment Sales Inappropriate in Current Climate (Fri 5th Sep 2003).

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