UK Financial Crisis - Bank Intervenes

The UK is in the grip of a full blown financial crisis, with the Bank of England forced to make an emergency intervention because of “material risk to UK financial stability”. This in the aftermath of Kwasi Kwarteng’s Financial Statement which slashed taxes for high earners, and earned an unprecedented rebuke from the Washington-based International Monetary Fund who said that the government’s economic policy would undermine efforts by the Bank to tackle rising inflation. Adrian Goldberg hears from Tony Yates – a former Professor of Economics at Birmingham University who was also at the Bank Of England for 21 years and Ewan McGaughey an academic at Kings College London who also teaches at the Paris School of Economics. Produced in Birmingham by Adrian Goldberg and Harvey White Funded by subscriptions to Byline Times. First broadcast via Twitter Spaces @bylineradio