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Vince Cable: Housing boom 'needs stopping'

The Business Secretary, Vince Cable, has suggested the Bank of England should intervene to stop the housing boom destabilising the economy.

Mr Cable said he'd been "appalled" to discover that some lenders were offering as much as five times a borrower's income.

George Osborne, in his Mansion House speech, is expected to say how the Bank of England could tackle any financial instability caused by house price rises.

Simon Jack reports.

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