Britain on thin ice over borrowing costs, warns economist

Summarised from 2 outlets · Updated 6 Oct, 11:31 · Archive

An ex-Bank of England chief economist warns Britain has the highest government borrowing costs in the G7.

An ex-Bank of England chief economist has warned that Britain is facing serious fiscal pressures, describing the country as being on 'thin ice'. The warning is prompted by Britain having the highest government borrowing costs in the G7, indicating that financial markets view the country's fiscal position as increasingly risky.

The economist has called for action to appease financial markets. According to This is Money, the advisor suggested the government must 'take the knife' to public spending to address the ballooning costs. The specific timing and context of these warnings are not detailed in the available reporting.

How it is being reported

• 'We're skating on thin ice': Haldane tells PM to 'take the knife' to public spending to calm jittery bond marketsThis is Money · 6 Oct, 11:13
• Britain is on 'thin ice,' warns ex-Bank of England chief economist — and it must act to 'appease financial markets'CNBC · 6 Oct, 08:53

In this story: Bank of England · Britain · G7 · Andy Burnham

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