Frank Field
"Each week the Government's debt office offloads another huge tranche of debt. The debt is, and here it comes, largely bought by money the Bank of England is printing. Soon,we are told, there will be no more of this printing - or as we call it in polite conversation, quantitative easing - although there are already one or two voices at the Bank suggesting the policy should be extended. The crunch point will come shortly when there is no more of this funny money to buy the Government debt. At this point the Government's cuts programme will be in the dock and the jury will be composed of those countries and institutions that might lend the British Government money."
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