Britain’s Truss says it’s the right time to take on more borrowing

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Reuters

BIRMINGHAM — British Prime Minister Liz Truss said on Tuesday it was the right time for Britain to take on some extra borrowing to try to spur economic growth, adding that the country had a low debt to gross domestic product ratio.

“This is the right time to take on some extra borrowing because of a very, very severe international situation that we face,” Truss told BBC radio. “And that situation is becoming apparent, with interest rates which are rising around the world, it’s becoming apparent through huge energy costs, so it’s the right decision.” (Reporting by Kylie MacLellan, writing by Elizabeth Piper, editing by Alistair Smout)