Eurozone

Part of Oral Answers to Questions — Defence – in the House of Commons at 4:32 pm on 10 October 2011.

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Photo of George Mudie George Mudie Chair, Statutory Instruments (Joint Committee), Chair, Statutory Instruments (Select Committee), Opposition Whip (Commons), Chair, Statutory Instruments (Joint Committee), Chair, Statutory Instruments (Select Committee) 4:32, 10 October 2011

The Chancellor has said that the asset purchase facility is the best way to get money into the real economy and stimulate growth. Why is the Bank of England refusing to use the asset purchase facility, when the last Government used it successfully, and instead allowing the money to be channelled through the banks, which keep hold of it for their own security, and not to be sent into the real economy?