Chancellor’s warning of £22bn ‘black gap’ brought about ‘concern’, says ex-Bank of England chief economist

The former chief economist on the Bank of England has informed Sky News that Rachel Reeves dire warning in regards to the state of the financial system has accomplished extra hurt than good.

Andy Haldane informed Sophy Ridge the chancellor’s July assertion had “generated a fear and foreboding and uncertainty among consumers, businesses and investors in UK PLC”.

He mentioned the feedback have been “unnecessary and probably unhelpful economically”.

The authorities has warned that subsequent week’s Budget can be "painful" after Ms Reeves mentioned she had found a £22bn fiscal "black hole" within the nation’s public funds.

Full story: https://news.sky.com/story/chancellors-black-hole-claim-unnecessary-and-unhelpful-says-ex-bank-of-england-economist-13213523

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