Broke Britain: how the Bank of England wrecked the economy
Spectator (UK)JUL 18
Bank of England Cuts Interest Rates to 4%
Above: Governor of the Bank of England, Andrew Bailey, on Aug. 7, 2025 in London, U.K. Image copyright: Jordan Pettitt/Getty Images
The Spin
Pro-establishment narrative
Today's sensible rate cut to shows prudent monetary policy working for families. With inflation falling toward target and mortgage costs easing, this measured approach balances growth with stability. The Bank and the government's careful, evidence-based decisions are delivering real relief to homeowners while maintaining economic discipline.
Establishment-critical narrative
This rate cut isn't cause for celebration but rather an admission of failure. The Bank only cuts rates when the economy is struggling, unemployment is rising, or both. With GDP stagnant, inflation rising and job losses mounting, the Bank and the government are attempting to gaslight the British public by presenting economic decline as sound monetary policy.