Former Bank boss Mervyn King in debt warning | This is Money

By CITY & FINANCE REPORTER Updated: 07:06 EDT, 26 April 2025 A former Bank of England governor has urged Rachel Reeves to tackle Britain’s staggering debt pile.King, who led the Bank of England from 2003 to 2013, told the House of Lords yesterday: ‘We owe it to our grandchildren to take seriously the challenge of reducing the national debt.’He criticised Reeves’s ‘flawed’ fiscal rules, which allow debt to keep rising as a share of GDP for the time being with the aim that it will start coming down after a few years. Warning: Mervyn King was boss of the Bank of England from 2003 to 2013King, 77, made his comments during a Lords debate after official figures this week showed Britain’s debt pile stands at £2.8 trillion, or £95,300 per household.DIY INVESTING PLATFORMSAJ BellAJ BellEasy investing and ready-made portfoliosHargreaves LansdownHargreaves LansdownFree fund dealing and investment ideasinteractive investorinteractive investorFlat-fee investing from £4.99 per monthInvestEngineInvestEngineAccount and trading fee-free ETF investingTrading 212Trading 212Free share dealing and no account feeAffiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our
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