We want to borrow, but we can’t find a lender!

Story link: We want to borrow, but we can’t find a lender!

Savings need to be made to improve balance sheets, but in the short term that means cutting jobs and higher unemployment, which definitely doesn’t help the country as a whole.
A recession is a vicious circle, so while one might save and gain, another will lose a job.

We want to borrow, but we can’t find a lender!

Shortly before Christmas, the Speaker of the House of Lords, Baroness Hayman, invited a group of peers and journalists to a meeting to discuss the economic crisis. I was particularly struck by the contribution of Lord Howe of Aberavon, who was the Chancellor of the Exchequer in the early years of the Thatcher Government.
He said that his memory of the financial crisis when the Conservatives returned to power in 1979 was not whether the Government should borrow, but whether it could borrow.