High debt heralds new rate policy: UK shadow chancellor
Britain's high levels of government debt will force a change in the way in which monetary policy is conducted, the UK's shadow chancellor of the exchequer, has said.
George Osborne, who has been shadow chancellor since 2005 and - if polls are to be believed - is set to replace Alistair Darling in May, said Britain's mountain of debt had risen to dangerous levels. He quoted a study by Carmen Reinhart and Kenneth Rogoff showing that once a national debt reached 90% of GDP an imminent risk of a
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