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Evening Standard
Evening Standard
World
Richard Wheeler and Bill McLoughlin

Former Bank of England chief warns of ‘higher taxes for the average person’

Bank of England Mervyn King Sir Keir Starmer Inflation

Lord King warned of higher taxes due to the current economic situation

(Picture: BBC )

Significantly higher taxes on the average person could be needed to finance higher public spending in the UK, according to a former Bank of England governor.

Lord Mervyn King said there “isn’t enough money there amongst the rich to get it back” when it comes to meeting the “strong case” for extra spending in certain areas to help recover from the lockdown.

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