U.S. Economist David Hale recounts a private conversation with Mervyn King, governor of the Bank of England:
"I saw the governor of the Bank of England last week when I was in London and he told me whoever wins this election will be out of power for a whole generation because of how tough the fiscal austerity will have to be."
Lets all remember that whoever wins this election, the cuts which will inevitably be imposed will be Labour cuts. A profligate Labour Party has over 13 years racked up this vast deficit and public sector debt - the cuts will belong to them and them alone.