Wednesday, 3 June 2009

Stop Balls says the FT

The voice of the business community seems to be backing Alistair Darling in more evidence that the community does not want Ed Balls as Chancellor.

In its editorial this morning the paper praises the Chancellor

Major reshuffles should be avoided; few portfolios benefit from inexperience at the helm. At this stage in the parliament, with only a year left until an election is required, the only reason to change ministers is if they lack the authority required to do their job. Jacqui Smith, the hapless home secretary, is rightly being replaced. But Alistair Darling, the chancellor of the exchequer, should stay.
and reminds us that

The UK was the first country in this crisis to recapitalise its banks. He pushed for a reasonable, but not excessive, dose of fiscal stimulus. Under his lead, the Treasury has become a more honest institution than it was under his predecessor, Mr Brown.

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