Bank of England faces calls to overhaul 'restrictive' remit

Move will accelerate recovery from coronavirus crisis, says Policy Exchange thinktank

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The government should cut taxes and overhaul the Bank of England's restrictive" remit as part of a radical new pro-growth strategy to accelerate the recovery from the coronavirus crisis, according to a free market thinktank with close ties to the Conservative party.

Policy Exchange, which was co-founded by Cabinet Office minister Michael Gove, warned ministers to take a relaxed view of rising levels of debt and use cheap credit to boost the economy and protect jobs.