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BPF calls for government to cut borrowing
The British Plastics Federation (BPF) has criticised government borrowing, saying that it has created uncertainty in the market.
The comments follow recommendations made by the governor of the Bank of England Mervyn King to the Treasury Select Committee for government to reduce its borrowing levels.
In its annual survey, released last week, the Organisation for Economic Co-operation and Development (OECD) mirrored King's recommendations.
"I welcome Mervyn King's comments last week calling for clear plans from the government to reduce borrowing through public expenditure cutbacks particularly," said BPF president Paul Jukes.
"Such plans are needed to right now if we are not to lose investor confidence and risk a downgrade in our national credit rating," he said.
According to Jukes, the government has already borrowed £175bn in the current financial year.
