By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Baner ClubBaner ClubBaner Club
  • Home
  • Business
    BusinessShow More
    The fiscal year’s first quarter saw a $2.32 billion increase in the trade deficit.
    October 2, 2025
    PPP urges democratic criticism while endorsing government relief efforts.
    October 1, 2025
    FinMin rules out additional tax measures amid positive IMF talks
    October 1, 2025
    Talks with IMF progressing ‘positively’: FinMin Aurangzeb
    October 1, 2025
    IMF asks Pakistan to reduce circular debt to zero in current fiscal year
    September 29, 2025
  • Politics
    PoliticsShow More
    Zardari calls for adopting economic mindset over conflicts
    October 2, 2025
    PM Shehbaz lauds Pakistani citizens’ participation in Global Sumud Flotilla
    October 2, 2025
    ‘PTI was not a party in reserved seats case,’ says SC
    October 2, 2025
    Violent protests continue in AJK despite govt’s offers of talks
    October 2, 2025
    Security of Pakistani citizens aboard flotilla remains govt’s foremost priority: FO
    October 2, 2025
  • Technology
    TechnologyShow More
    UAE launches AI visa, event permits and residency for widows, and refugees
    September 30, 2025
    Transforming future of work: Resource Cloud launches at ITCN Asia 2025
    September 26, 2025
    Meet the history-making astronauts headed for the Moon
    September 24, 2025
    Pakistan to roll out 5G in coming months, says IT minister
    September 23, 2025
    To find Russian agents and obtain secrets, British spies use the dark web.
    September 19, 2025
  • Sports
    SportsShow More
    Namibia book T20 World Cup 2026 spot after comprehensive win over Tanzania
    October 2, 2025
    Bangladesh crush Pakistan by 7 wickets in ICC Women’s World Cup
    October 2, 2025
    Football cannot solve conflict but carries message of peace, says FIFA’s Infantino
    October 2, 2025
    Women’s World Cup: ‘No handshake guarantee’ ahead of Pakistan-India clash, says BCCI
    October 2, 2025
    Pakistani equestrian Usman Khan books 2026 Asian Games berth
    October 2, 2025
  • Job Portal
  • Matrimonial
  • Marketplace
  • Chat Room
  • More
    • Blog
    • Interests
    • Contact Us
Reading: ‘Unnecessary and unhelpful’ is how one former Bank of England economist describes the Chancellor’s ‘black hole’ allegation.
Share
Notification
Font ResizerAa
Font ResizerAa
Baner ClubBaner Club
Search
  • Home
  • Business
  • Politics
  • Technology
  • Sports
  • Job Portal
  • Matrimonial
  • Marketplace
  • Chat Room
  • More
    • Blog
    • Interests
    • Contact Us
  • Privacy Policy
  • Terms and Conditions
© 2022 BanerClub. All Rights Reserved.
Baner Club > Blog > Ecnomics > ‘Unnecessary and unhelpful’ is how one former Bank of England economist describes the Chancellor’s ‘black hole’ allegation.
EcnomicsPolitics

‘Unnecessary and unhelpful’ is how one former Bank of England economist describes the Chancellor’s ‘black hole’ allegation.

A former chief economist of the Bank of England has claimed that the chancellor's claim of a £22 billion "black hole" in government finances was "unnecessary and probably unhelpful economically.".

Last updated: 2024/09/13 at 8:17 AM
Published September 13, 2024
Share
2 Min Read
SHARE

In July, Rachel Reeves made a comment that Andy Haldane News’ Politics Hub with Sophy Ridge was a “bad idea” because it created a sense of “fear and foreboding” at a time when the UK was experiencing a surge in confidence.
Shortly after assuming office, Ms. Reeves made the assertion, which was interpreted by many as a warning that her first budget in October would involve a severe combination of tax increases and spending cuts.

Mr. Haldane expressed his hope that the government would not adopt an austerity policy, but he cautioned that wealth taxes may potentially be harmful to the economy.

“The black hole event was needless and probably not beneficial economically,” he stated.

“If a black hole is what it appears to be, then that’s one thing. But I believe it was a poor idea to just let that sit for three months.”

He responded that it was “much better to say nothing until you provide solutions” in response to a question about what the government ought to have done.

Mr. Haldane went on: “It’s unfortunate because right after the election, there was a sense of refresh, a sense of renewal, and a confidence about the UK both domestically and internationally. That’s generated a fear and foreboding and uncertainty among consumers, among businesses, and among investors.”

You Might Also Like

Zardari calls for adopting economic mindset over conflicts

Pakistan imposes 40% duty on import of used cars

PM Shehbaz lauds Pakistani citizens’ participation in Global Sumud Flotilla

‘PTI was not a party in reserved seats case,’ says SC

Violent protests continue in AJK despite govt’s offers of talks

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
admin September 13, 2024 September 13, 2024
Share This Article
Facebook Twitter Whatsapp Whatsapp LinkedIn Copy Link
Share
Previous Article Michael O’Leary, the CEO of Ryanair, is “happy” to put a two-drink limit on alcohol on flights.
Next Article Founding member of Revolut Storonsky’sells £200m share’ in fintech giant.
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

Facebook Like
Twitter Follow
Pinterest Pin
Instagram Follow
Youtube Subscribe
Dribbble Follow
- Advertisement -
Ad imageAd image

Latest News

Zardari calls for adopting economic mindset over conflicts
Pakistan Politics October 2, 2025
Crackdown begins as grace period ends for unlicensed motorcyclists in Islamabad
Crime and Juistice Pakistan October 2, 2025
Procter & Gamble, Gillette to shut down Pakistan operations
Crime and Juistice Information Technology October 2, 2025
Second mpox case reported in Sindh
Health October 2, 2025
//

Where headlines meet insight, and stories shape perspectives. Your gateway to informed perspectives and captivating narratives.

Top Categories

  • BUSINESS
  • POLITICS
  • TECHHot
  • HEALTH
  • News
  • Technology
  • Fashion

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

Baner ClubBaner Club
Follow US
© 2025 BanerClub. All Rights Reserved.
  • Privacy Policy
  • Terms and Conditions
Pay with Paypal

Login

Register

Please enter your username or email address. You will receive a link to create a new password via email.

Loading Back to login
Forgot Password
Facebook Login Loading...
Registration is currently disabled.
  • Login
  • Sign Up
Forgot Password?
Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.
body::-webkit-scrollbar { width: 7px; } body::-webkit-scrollbar-track { border-radius: 10px; background: #f0f0f0; } body::-webkit-scrollbar-thumb { border-radius: 50px; background: #dfdbdb }
Welcome Back!

Sign in to your account

Lost your password?