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Govt insists vulnerable households given 'enormous' support
Video Credit: ODN
Published on August 4, 2022 - Duration: 04:02s
Govt insists vulnerable households given 'enormous' support
Business Minister Greg Hands insists the government has given "enormous" support for vulnerable households, as the Bank of England announces a 0.5 per cent growth in interest rates, its biggest hike since 1995.
He also claims Russia's invasion of Ukraine is to blame for soaring energy costs across most Western countries.
Report by Brooksl.
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Bank of England
Central bank of the United Kingdom
For some reason which no-one can quite remember, when economists talk about interest rates they invariably find themselves referring to species of birds.
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The Bank of England interest rate has been kept at 5.25% for a fifth consecutive time, but says the prospects for a cut are "moving in the right direction".
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Government
System or group of people governing an organized community, often a state
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Greg Hands
British Conservative politician (born 1965)
Social-networking service owned by Meta Platforms
Ukraine
Country in Eastern Europe
Credit: IndiaTimes - Published 2 hours ago
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