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December 01, 2010

Comments

It doesn't add up...

Probably as well they didn't say what they thought about Mervyn within earshot of the US ambassador. Still, after the row from Mr Posen, who accused Mervyn of overtly supporting the Tories with his statements supporting Osborne's deficit plans, perhaps the score is 1-1? Mr Posen has shown himself to be a Brown lackey along with his so-complainers. Independent MPC? MP for Morley & Outwood!

john parkes

Bearing in mind also that King probably knew more about the state of the economy and size of the deficit than either Cameron or Osborne, he was right to be cautious. After all, the political pressures on both of the latter to go easy on deficit reduction were enormous, not least because of the problematic result of the forthcoming general election. King probably tried to assess the likelihood of a Conservative majority, what they would do if they tried to form a minority government and last of all, how any possible coalition might be formed if that became necessary.
All that aside, I suspect the King also underestimated the amount of deep, background preparation that had been done, work the the Conservatives wanted to keep under wraps until the election result was known.
I doubt that either Cameron or Osborne will carry any ill-feeling towards King over this report, even if it turns out to be true. They are playing for much higher stakes than petty animus or revenge.

JCS

He was saying what a lot of Tories were also thinking and saying so I don`t think its any big deal really.Neither of them had any major experience in government so its only natural that someone charged with looking after the nations finances would be concerned about both Osborne`s and Cameron`s abilities.

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