Wednesday, June 24, 2009

‘When’ being the operative word.

Bank of England governor attacks Darling's borrowing policy

Bank of England governor Mervyn King has put himself on a collision course with Alistair Darling over the chancellor's plans to nurse the government's finances back to health when recession is over.

Posted by devo @ 08:08 PM (915 views)
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4 thoughts on “‘When’ being the operative word.

  • See also:

    Governor in dark on banking regulation

    By Chris Giles, Economics Editor

    Published: June 24 2009 19:09 | Last updated: June 24 2009 19:09

    Mervyn King blew into the open the lack of trust and rancour between the bank of England and the Treasury on Wednesday as he complained he had not been adequately consulted on Alistair Darling’s plans for reform of banking regulations.

    The Bank governor also heightened tensions over fiscal policy by insisting that the government’s “extraordinary” and “enormous” levels of borrowing had to be reduced faster than the Treasury planned, even if the economic recovery was only as strong as Mr Darling pencilled in at the Budget.

    http://www.ft.com/cms/s/0/5d2c1976-60e7-11de-aa12-00144feabdc0.html?nclick_check=1

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  • Why is he suddenly so brave and outspoken? I think he is gambling on a Tory win so he can keep the job when his contract expires.

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  • Should be interesting when the banks come round with their begging bowls again.

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  • Cheekie Charlie says:

    I think we show Mr King a diservice on this site, didn’t he say “the economic cycle hasn’t gone away” statement after Gordon Brown thought he’d done away with it! But nobody listened.

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