Mervyn King, the governor of the Bank of England has renewed his warning to the government that it must cut the public deficit. Source: BBC.

Personally I wouldn’t put much faith in anything King has to say – he’s paid to monitor the economy and spotting problems and adjusting bank policy accordingly – he and his colleagues failed to see the recession coming and failed to act in time by – now he’s telling us to concentrate on reducing the deficit – I say let’s ignore his advice its been demonstrably shown to be wanting. What’s more important is to get the recovery underway and concentrate on keeping unemployment down – once the recovery is assured then let’s look at the deficit – and in all probability we’ll see it already reducing.