UK - Britain cannot afford to borrow more without jeopardising the country’s financial stability, a senior Bank of England official has warned. Richard Sharp said the Government had already borrowed an extra £1 trillion since the 2008 financial crisis. Borrowing more could put the country at risk of suffering from a collapse similar to that experienced by Venezuela, he suggested. Mr Sharp, a member of the Bank’s Financial Stability Committee, spoke just days after Philip Hammond announced a £25 billion spending spree in the Budget and at a time when the Labour Party is advocating borrowing an extra £250 billion.