Bank of England Bailey: When shocks become more frequent, potential growth weakens, and successive shocks push up government debt levels, it is more difficult for the government to use balance sheets to cushion the effects of a serious economic downturn.

Bank of England Bailey: When shocks become more frequent, potential growth weakens, and successive shocks push up government debt levels, it is more difficult for the government to use balance sheets to cushion the effects of a serious economic downturn.