Fund manager spends £5,000 to criticise Brown - papers 5 July

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A leading City fund manager is so concerned about Gordon Brown's economic record that he has spent £5,000 of his own money placing an advertisement criticising the new Prime Minister in the in-house magazine at the Houses of Parliament, The Independent reports.

Patrick Evershed, of New Star Asset Management, accused Mr Brown of building up the British economy on a "mountain of debt". He said consumer borrowing and private equity industry gearing had kept the economy afloat over the past 10 years. Mr Evershed, who describes himself as "an active member of the Conservative Party", said yesterday that he had placed the adverts because of his concern about Mr Brown's economic record, rather than to score political points. This is the second time he has placed advertisements attacking Labour. Last year, he spent tens of thousands of pounds on front-pag...

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