Aaron Turner, CEO of look4aproperty.com warns against wasting £75billion quantitative easing.
Property entrepreneur Aaron Turner is calling on the government to introduce strict guidelines to ensure the injection of money into the economy announced today reaches the people who need it most.
Speaking on business channel CNBC today, Turner welcomed the quantitative easing but warned the UK must not make the same mistakes as Japan had, with banks sitting on the cash.
“This money and today’s rate cut is welcome and desperately needed by British businesses and borrowers,” says Turner, “but if the government does not ensure the money gets to them it will have been a wasted exercise.”
Turner is also calling on British businesses to come up with ways to get liquidity back into the housing market.
Together with James Caan, his business partner at www.look4aproperty.com
, Turner believes this is the key to kick-starting the economy.
Related links
- 09/03/2009 10:44 - UK mortgage overpayments on the increase
- 05/03/2009 16:08 - Bank of England reduces bank rate by 0.5 percentage points
- 05/03/2009 15:46 - Quantitative easing may relieve the cost of money
- 05/03/2009 15:12 - Base rate cut will widen the UK mortgage divide even further
- 05/03/2009 09:16 - Freddie And Fannie introduce measures to help homeowners
- 04/03/2009 12:23 - UK recession to be the deepest
- 04/03/2009 00:01 - Barclays to help businesses through the recession
- 02/03/2009 13:05 - Low mortgage tracker deals expiry could hurt homeowners
