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Wednesday 1 December 2010

Bank Chief Attacks PM's 'Lack Of Experience'

5:02am UK, Wednesday December 01, 2010

Miranda Richardson and Andy Jack, Sky News Online

The Bank of England chief criticised David Cameron and George Osborne for their lack of experience before the election, according to the latest leak of US embassy cables.


Mervyn King told US ambassador Louis Susman that the future Prime Minister and Chancellor relied too heavily on a narrow circle of advisers.

They "had a tendency to think about issues only in terms of politics, and how they might affect Tory electorability," he apparently said.

Mr King told the ambassador he had held private meetings withthe Tory leader and Mr Osborne before the election to urge them to draw up a detailed plan to reduce the deficit.

In a note to US secretary of state Hillary Clinton, Mr Susman said: "King expressed great concern about Conservative leaders' lack of experience.

"[He] 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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