Chancellor George Osborne
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Chancellor George Osborne supports QE programme

The Chancellor George Osborne has backed the Bank of England's decision to pump £75bn into Britain's ailing economy.

The quantitative easing programme is designed to free up banks to lend more money to businesses and individuals.

Mr Osborne told the BBC: "I think it is the right way forward for this country that the Bank of England undertakes quantitative easing."

He added that Britain needs to "use all the tools available to it to get the economy moving and ride out the debt storm".

  • 07 Oct 2011