Chancellor Philip Hammond will set out next month how Britain will try to rely less on ultra-low interest rates that have hurt savers, and focus more on other ways to boost growth, an adviser to Prime Minister Theresa May said.
In a speech on Wednesday, May said there had been bad side-effects from the Bank of England’s emergency measures to protect the economy since the financial crisis and the time had come for a new approach to spurring growth.
The head of her policy unit, George Freeman, said the government had to “listen to the roar that we heard this year”, when voters decided by a narrow majority that Britain should leave the European Union in what was seen as a protest over living standards.
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