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Mortgaging the future?

Osborne's Budget is mostly business as usual—except for a new mortgage scheme

By Prospect  

Having flirted with the possibility of restructuring the mandate of the Bank of England, in his budget speech today, George Osborne declined to make any substantial changes. There were some fiddly alterations, such as the way in which the Bank and Treasury communicate. But a switch in the Bank’s mandate from targeting inflation to a system of targeting economic output did not occur. The incoming governor of the Bank, Mark Carney, had discussed publicly the possibility of a GDP target. It seems that…

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