Former BoE governor Mervyn King says UK must 'cut spending or raise taxes' | The Inside Brief

Bond markets are sending signals that politicians are struggling to read. Former Bank of England governor Sir Mervyn King joins The Inside Brief with Manus Cranny from London to make sense of them, drawing on a 22-year career at the institution and a decade as governor during some of the most turbulent periods in modern financial history. On the current state of UK gilt markets and rising long-term yields, Mr King argues that a 10-year bond yield of 5 per cent is not unusual in itself. What concerns him more is the deep political reluctance across major economies to put public debt on a sustainable path. In the conversation, Mr King also reflects on the oil shock and its impact, City of London, the closeness of relationships between the world's major central banks, and the charity he cofounded in 2005, Chance to Shine, which has brought cricket into state schools and reached eight million children. 00:00 Bond markets demand credibility 03:19 Are we in a debt crisis? 13:29 Taxes, spending and realistic plans 22:50 Oil shocks and looking through inflation 27:27 Do you miss the job? 31:13 Why cricket builds confidence All the latest news: https://www.thenationalnews.com Like us on Facebook: https://www.facebook.com/TheNationalNews Follow us on X: https://twitter.com/TheNationalNews Follow us on Instagram: https://www.instagram.com/thenationalnews.com/ Follow us on LinkedIn: https://www.linkedin.com/company/thenationalnews