It could be worse for Carney

WHILE Bank of England governor Mark Carney faces problems convincing markets to accept his forward guidance scheme, new historical evidence suggests he may be getting off lightly.

Newly released diary pages from Margaret Thatcher’s economic adviser Alan Walters claim that Bank governor Gordon Richardson “got a boll***ing” for raising the benchmark interest rate while she was away from the UK.

In another 1983 letter to Geoffrey Howe, Thatcher insisted that her chancellor pay more attention to existing home owners, and less to first time buyers: “We do, indeed, want to help them; but we should also help those with large mortgages who are already our natural supporters.” In unrelated news, David Cameron’s Help to Buy scheme begins today.