George Osborne

UK Chancellor George Osborne and former US Treasury Secretary Lawrence Summers have just locked horns at Davos on the UK’s economic recovery. Whilst Summers didn’t directly use the words “you blew it” as some reported, FT reporters on the ground say that was the clear sentiment.

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George Osborne has just bolstered his support of Bank of England governor Mark Carney’s somewhat embattled “forward guidance” of linking interest rates to the UK’s unemployment rate – saying that he “completely rejects” the suggestion that the policy has been a failure.

In a debate with a panel of central banking heavyweights in Davos, Switzerland, Mr Osborne fairly huffily slapped backed suggestions that Mr Carney’s flagship move at the helm of the BoE has not worked.

Esther Bintliff

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