The Chancellor has spoken at the Cass Business School on the financial turbulence and what governments have done to address it. He highlighted:

  • the need to be aware of excessive rigidity; 
  • the need to specify clear objectives; and 
  • the risks of having no medium-term strategy.

He looked at globalisation, work to address the crisis and the role of the FSF and IMF. Finally, he turned to monetary policy and the work of the BoE.