King tells Osborne £37bn QE cash grab won't help UK

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Sir Mervyn King, the Bank of England's Governor, told the Chancellor that £37bn cash the Treasury claimed from the QE programme will not help the UK's finances.

As George Osborne readies for gloomy debt forecasts next week, Sir Mervyn King said it was "very clear" that any headline boost to the public finances from the Treasury's move would not help the "underlying"...

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