Mervyn King, Governor of the Bank of England The world is facing the worst financial crisis since at least the 1930s “if not ever”, the Governor of the Bank of England said last night. Sir Mervyn King was speaking after the decision by the Bank’s Monetary Policy Committee to put £75billion of newly created money into the economy in a desperate effort to stave off a new credit crisis and a UK... 

Britain’s net debt as a proportion of national output will skyrocket to 90 per cent in 2010, while the unemployment rate is set to hit almost 10 per cent in the same year, warns a leading economic think-tank. The Government was under fresh fire over the state of the public finances today after the Organisation For Economic Co-operation and Development said it should be ‘more ambitious’...