Mark Carney: How Osborne got his man

Until last month, George Osborne had more or less given up hope of persuading Mark Carney to come over to the UK to succeed Sir Mervyn King as Bank of England Governor. As a result, the mood in Downing Street was one of depressed resignation: all of the other candidates, while worthy, had niggling flaws. Paul Tucker, the deputy governor and runaway favourite, was tainted by his handling of the Libor crisis … Continue Reading ››

How the Chancellor may break his fiscal rules: a five-minute guide

The Institute for Fiscal Studies has warned that the Government will have to borrow more than expected this year, and that George Osborne will miss at least one – and possibly both – of his two fiscal rules. How exactly has this happened? Here is the story in three pictures from the IFS report on the autumn statement. The main reason the public finances will disappoint this year is that … Continue Reading ››