 |
| sborne has warned of complacency Photo: Joel Goodman/PA |
British homeowners must be "ready" for a rise in interest rates, George Osborne has said despite a global slump which sent stock markets plummeting yesterday.
George Osborne said that it was "mission critical" for the UK after the value of Britain's biggest companies slumped following turmoil in Chinese markets.
The value of Britain's FTSE 100 companies fell by more than £30billion yesterday morning amid concern about the Chinese economy and sliding oil prices.
However the Chancellor suggested that the nation should prepare for a rise in interest rates from the historic low of 0.5 per cent, which has been in place since 2009.
 |
| George Osborne: he might just have done enough to see him through to the other side of the election |
He told BBC Radio 4's Today programme: "We’ve got to make sure in our country, and this is the responsibility of the Government not the Bank of England solely, that of course we are ready for whatever the interest rate environment is, that this time, for example… we monitor overall levels of indebtedness in our economy, that we take action to deal with particular booms or asset price bubbles, and things like buy-to-let mortgages.
"We have got to be ready, but ultimately if and when interest rates go up, that will be a sign of a stronger economy that is normalising after the extraordinary crisis of seven or eight years ago."
In a speech in Cardiff, his first of 2016, Mr Osborne later said that higher rates are "a sign of a stronger economy".
0 komentar:
Post a Comment