Bank of England governor Eddie George has rejected a suggestion to raise interest rates to slow down the booming economy in the south of England.
George says any moves to protect particular regions or sectors of the economy, suggested by digruntled businessmen, could jeopardise the economy.
The Monetary Policy committee has raised interest rates twice in recent months as a result of rising house prices and consumer spending. Expert are claiming this is increasing the North-South divide.
George says: “I don't think anyone seriously suggests that we should put the whole economy at risk, we would take the risk of destabilising the whole economy, in order to protect particular sectors or regions.”