George Osborne’s £37bn QE cash grab won’t help him, says Mervyn King

Telegraph
"The Governor of the Bank of England has warned the Chancellor that his £37bn cash grab on the proceeds of the Bank’s money-printing offers him no way to bolster the UK’s finances."
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George Osborne bags £35bn windfall from QE The Chancellor has bagged a £35bn windfall that will reduce public borrowing by reclaiming the surplus cash sitting in the Bank of England's £375bn quantitative easing programme.