'Something's gone wrong': Kwasi Kwarteng critical of Bank of England

by News Update

The business secretary, Kwasi Kwarteng, has criticised the Bank of England’s control of inflation, saying ‘clearly something’s gone wrong’ at the institution, as prices are predicted to rise by 13% and the UK is forecast to suffer an economic downturn lasting more than a year. 

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As a key supporter of the foreign secretary, Liz Truss, Kwarteng’s comments suggest the Bank’s independent mandate to keep inflation at 2% may be re-examined if she should become the next prime minister

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29 comments

SteveXNYCAutomotive August 5, 2022 - 3:56 PM

The Bank of England fund all wars and socialism. The rothchild are the biggest winner in the Banks of London, England all the same.

Jennai Shirow August 5, 2022 - 3:56 PM

well someone is getting richer off these inflation increases and it aint us

comanchio1976 August 5, 2022 - 3:57 PM

"Operation 'pass the buck'"
They'll be blaming Jeremy Corbyn in the next interview…

Facts over Fear August 5, 2022 - 3:59 PM

Who controls most banks.? 💡. They are the problem off the world 🌎

C Sharpe August 5, 2022 - 3:59 PM

Classic shift in the blame. Would the bank of England known that they was going to be A-war. I don't think so.

Andrew Welsh August 5, 2022 - 4:03 PM

Nothing will change

Chris Wood August 5, 2022 - 4:04 PM

Something's gone wrong?? Might it start with a B, end with a T and have an X in the middle? 🤔 Even without Covid or Ukraine, every economist warned this would be inevitable.

johannesnicolaas August 5, 2022 - 4:06 PM

Another of Boris his clones spewing garbage again.

Andrew Russell August 5, 2022 - 4:09 PM

This man is not to be trusted.
You can’t have Russia starting a war with Ukraine and it not having an impact on our economy.
What puzzles me is the interviewer does not challenge this horseS, where is the Paxman type of forensic preparation that is required with politicians of this type?
Jeez, is Sky becoming a Fox News acolyte?

MilesBellas August 5, 2022 - 4:10 PM

The problems with theBritish economy are systemic.
Manufacturing should be internal to create cyclical capital.
Tax havens MUST be addressed.
Empowering China and creating a predatory Police and surveillance state is not a functional solution for western democracy.

Matthew Cropper August 5, 2022 - 4:15 PM

“Somethings gone wrong” oh I don’t know, what massive events could have had a compounding significant effect on our growth? We’ve had wonderful Brexit reality hitting our trade, exodus of businesses, currency devaluation since then, plus covid constriction and now a energy crisis borne from a idealogical set of sanctions to pander to the US interests. Just remember weaker EU means stronger dollar 1 year it has dropped against the dollar 14-15%. , they wanted to stop nord stream 2 5 years ago, even sanctioning companies involved in the project. Now they’re getting what they wanted. Russian supply threat so that they can sell their LNG. People will study this incompetence of European leaders in years to come. Agreeing to destroying the global economy for US need for hegemony.

Jephcote August 5, 2022 - 4:16 PM

The government padding out their debts by devaluing the pound.

Jay Dee August 5, 2022 - 4:20 PM

Furlough spending by the tories didn’t help inflation..

Ross Rowntree August 5, 2022 - 4:22 PM

The dogs in the street saw this coming 2 years ago but experts only notuc now .
Every single person who agreed with lock down should be removed from office to a cell

Muhammad Omer August 5, 2022 - 4:23 PM

His voice is racist.

SmallCat August 5, 2022 - 4:25 PM

Drama for the Phesants :(
Energy Companies = made the most weve ever made ..

C A August 5, 2022 - 4:29 PM

Yeah something gone wrong
12 years of Conservative government
What a ####

Nathan Furnival August 5, 2022 - 4:30 PM

Get ready for all the racist comments from the leftys

Richard F August 5, 2022 - 4:30 PM

Yes something's gone wrong with the whole of government
You're in control of our money. Maybe you should not waste it and help the people of this country and not enrich yourselves and your mates
It's out money you p!sssed up the wall
Literally

Richard F August 5, 2022 - 4:31 PM

£36,000,000,000 on track and trace
That was deemed ineffective . That's on you…A football stadium filled with £50 notes gives you some scale

Rob Wilson August 5, 2022 - 4:31 PM

The government currently is like rats in a sack. They will never realise what they've done since 2016 is the core.

Three 'The Sims' Cards August 5, 2022 - 4:32 PM

"Nothing to do with us, guv! We were in power for the last 12 years but it turns out we never really controlled anything.
Sic transit gloria mundi, as they say…"

Mission Complete August 5, 2022 - 4:32 PM

In 12 years of Conservative rule they have completely and utterly almost destroyed this once great country.

Veegerman August 5, 2022 - 4:33 PM

12 years of government by a party that the media always say is economically safe. 12 years and look at the state we're in. And what's their solution? Go on holiday and blame the B of E! What an utter disgrace !

Spurs71 August 5, 2022 - 4:35 PM

It's never their fault.They don't take responsibility for anything.

SimplySketchy August 5, 2022 - 4:36 PM

Yeah the Tories have been in power 7 years too long…..

Artur S August 5, 2022 - 4:37 PM

Obviously inflation is not a result of several lockdowns and printing money 😂

B Hew August 5, 2022 - 4:39 PM

Tories have led us to disaster. We really need a working government reight now but instead we have 2 selfish people trying to out Thatcher eachother. This is bad for the UK, like really bad…

Seeking Enlightenment August 5, 2022 - 4:40 PM

The Tory party and the reggae star Shaggy, should re-release the hit – IT WASN'T ME
It's never the Tories fault is it ?