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Old 23-03-2013, 20:19
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Join Date: Nov 2004
Posts: 13,866
Head out of the sand rtg.

Osborne 2009: 'Printing money last resort of desperate govts'

The Bank today increased its QE programme by a shock 75bn in a bid to kick-start the UKs ailing economy. Previously only 50bn had been discussed as a possible rise. It is the first time the Bank has issued QE under the coalition government. The first round - which pumped 200bn into the economy - happened under Labour.

ln 2009 Osborne, then shadow Chancellor, slammed Labour Chancellor Alistair Darling's emergency plan to print more money. Osborne said at the time: "The very fact that the Treasury is speculating about printing money shows that Gordon Brown has led Britain to the brink of bankruptcy.

"Printing money is the last resort of desperate governments when all other policies have failed.
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