Jul.15 — Charlie Bean, a former Bank of England deputy governor who is now a committee member at the U.K.’s Office for Budget Responsibility, says it’s “perfectly sensible” for the government to begin unwinding its furlough program as the economy reopens because the plan was only intended as a “bridge” through lockdown. He made the comments Tuesday in an interview on “Bloomberg Markets: European Close.”
In This Story: Bank of England
The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the English Government’s banker, and still one of the bankers for the Government of the United Kingdom, it is the world’s eighth-oldest bank.