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Osborne: Tories have a high regard for Turner's abilities

The Tories said last night that they admired Financial Services Authority chairman Lord Adair Turner, but that it was too early to speculate whether they would hand him a top job at the Bank of England (BoE).<br /><br />Commenting on talk that Turner could become deputy to the governor of the BoE if the conservatives win the election, a spokesman said shadow chancellor George Osborne had not thought that far ahead.<br /><br />&ldquo;Osborne has a high regard for Lord Turner&rsquo;s ability but has absolutely not started handing out jobs to anyone.&nbsp; There is an election to win,&rdquo; a Conservative party spokesman said.<br /><br />The shadow chancellor has said&nbsp; he will dismantle the FSA should his party win at election next year, and return the supervision of the financial industry to the Bank. It is thought this process will involve the merging of some of the watchdog&rsquo;s senior management with the BOE.<br /><br />This year, Osborne called the tripartite system involving the FSA, BOE and the Treasury &ldquo;unworkable&rdquo;.<br /><br />&ldquo;Given everything that has happened, it would be bizarre to stick with a system of regulating the banks that failed so spectacularly,&rdquo; he said.<br />