THE Governor of the Bank of England, Mervyn King, who is also chairman of the Monetary Policy Committee (MPC) recently gave the Government an accommodating thumbs up for its part in Britain’s ongoing recovery.
Can someone remind me what recovery that would be? Is it the one that has inflation running over twice its target rate, or the one that has seen Britain’s manufacturing sector suffer its worst clobbering in over two years?
Let’s not forget Mervyn King was the man who almost lost his job under the last Government following the crumbling of Northern Rock and is now sleepwalking straight into another financial catastrophe.
He may be still in sleepwalking mode but surely Mervyn King doesn’t believe the coalition’s economic fairy-tale is real?
Or could it be the fact that Mervyn King’s just been crowned with a gong in the Queen’s birthday honours list.
Silence, after all, is golden.
Stephen Dixon, Redcar.
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