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Wednesday, March 22, 2023

Bank governor 'criticised Cameron'

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Bank of England governor Mervyn King criticised David Cameron and George Osborne for their 'lack of experience', leaked documents showed

David Cameron and George Osborne have been privately criticised by the governor of the Bank of England for their “lack of experience” and tendency to view issues “only in terms of politics”, the latest leaked US diplomatic cables revealed.

Mervyn King made the remarks in February to the US Ambassador to London, Louis Susman, who relayed them to Secretary of State Hillary Clinton.

They are embarrassing for the Prime Minister and the Chancellor and threaten to damage the Government’s relations with the governor.

Mr King told Mr Susman that, having met the two men before the general election to talk about the deficit, he felt they “had a tendency to think about issues only in terms of politics, and how they might affect Tory electorability”.

“King expressed great concern about Conservative leaders’ lack of experience,” Mr Susman told Mrs Clinton.

The governor apparently “opined that party leader David Cameron and shadow chancellor George Osborne have not fully grasped the pressures they will face from different groups when attempting to cut spending”.

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