Cameron Says Nothing Is Taboo as U.K. Tries to Boost Economy
Prime Minister David Cameron said “nothing should be taboo” as the government considers extra measures this fall to boost Britain’s flagging economic growth.
“We haven’t gone far enough,” Cameron wrote in an article for today’s Mail on Sunday newspaper. “My order to Whitehall this autumn is to think even more boldly about what we can do to put the turbo-boosters on Britain’s economy.”
The government will if necessary tackle lobby groups “that are defending every last bit of the regulation that crushes business,” Cameron wrote. “And yes, if it means putting even more pressure on the banks so they lend more to small businesses, then we’ll do that too.”
U.K. economic growth slowed to 0.2 percent in the second quarter and the Bank of England cut its growth projections last month to about 1.5 percent this year and 2.2 percent in 2012. Banks have warned that implementation of any proposals to be made next week by the government-appointed Independent Commission on Banking to strengthen lenders’ financial positions should be postponed because of the faltering recovery.
To contact the reporters on this story: Eddie Buckle in London at ebuckle@bloomberg.net
To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net
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