Credit: Can trees grow to the sky? - speech by Jon Cunliffe

Speech given at the British Property Federation Annual Residential Investment Conference, London.
Published on 09 February 2016

In a speech to the British Property Federation’s annual conference on Tuesday, Jon Cunliffe considers the factors that drove the rapid of expansion of credit, in particular to the household sector, in the 10 years up to the crisis. And he explores the risks to financial stability and broader economy resulting from credit growing consistently faster than GDP.

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Sir Jon Cunliffe's biography

Sir Jon Cunliffe

Former Deputy Governor, Financial Stability from 2013 to 2023

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