The British economy needs the government to support the economic recovery. The government must provide support to corporate banking if the UK's economic recovery is to keep its current pace.
This is according to the Organisation of Economic Cooperation and Development's (OECD's) latest UK Economic Survey.
OECD secretary general Angel Gurria, during the corporate finance survey's release in London, praised the current policy of the Bank of England, adding: "To counter some of the negative impact, monetary policy should remain expansionary to support the recovery, even if headline inflation is currently above target."
It was also noted that the UK's tax system is inefficient compared to that in much of Europe, with only 60 per cent of the possible income from taxes collected.
Earlier this month, the Bank of England's Monetary Policy Committee revealed it is holding interest rates at the record low of 0.5 per cent, the level at which rates have been for more than two years, with the meeting's minutes set to be released next week.
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| Corporate Finance |
OECD secretary general Angel Gurria, during the corporate finance survey's release in London, praised the current policy of the Bank of England, adding: "To counter some of the negative impact, monetary policy should remain expansionary to support the recovery, even if headline inflation is currently above target."
It was also noted that the UK's tax system is inefficient compared to that in much of Europe, with only 60 per cent of the possible income from taxes collected.
Earlier this month, the Bank of England's Monetary Policy Committee revealed it is holding interest rates at the record low of 0.5 per cent, the level at which rates have been for more than two years, with the meeting's minutes set to be released next week.
