Carney: UK's first lost decade of growth in 150 years

'Losing trust' in globalisation

Governor of the Bank of England Mark Carney has said Britain is facing its first decade of lost growth in 150 years, which is causing many to lose trust in globalisation.

The governor (pictured) said real incomes had not risen over the past ten years and called upon policymakers across the globe to do more to address those that feel left behind. In a speech at Liverpool John Moores University, just a day after Italy voted 'no' in a referendum of constitutional reforms, Carney said: "The risks of a new political instability for economic development, the financial markets and the currency union are increasing further," reported The Telegraph. He added the UK was suffering its "first lost decade since the 1860s" at a time when there was a growing sense of...