May Defends Free Market Capitalism

Theresa May has defended free market capitalism in a speech marking 20 years since the Bank of England was given the right to set interest rates.

Mrs May said the British people should never forget the value of a free market economy.

She also restated her determination to be tough on public spending despite political pressure to ease austerity.

“Continuing to deal with our debts,” is the way to strengthen the economy, she said.


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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.