The chief executive of Lloyds Banking Group - the UK's biggest lender - has warned whoever wins the general election that they will not be able to fuel growth by increasing government borrowing. Charlie Nunn said the UK's national debt had been forced higher in the last decade and a half due to 'massive shocks' such as the global financial crisis, the pandemic, the war in Ukraine and also by some issues specific to the UK economy.
'And I think that's the first thing for a new government, which is to provide that stability and to provide thinking, in some of these areas around infrastructure and housing, which is 10 years thinking not shorter-term thinking. So that's the first thing they're looking for. 'The second big theme, which is really consistent, is there are some supply-side issues… which are getting in the way of businesses getting a return on their investments.
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