King set for hostile reception at TUC

clock

Mervyn King will today become only the second Bank of England governor to address the TUC when he speaks at the union's conference in Manchester.

Unionists, who will vote on joint industrial action against public sector redundancies on Monday, have blamed King for helping to bring in cuts. King says the BoE's role is now "to protect the public from the banks," the BBC reports. He adds: "The role of the Bank of England changed with independence. It was an apologist for the City. I now see it serving the nation as a whole." RMT leader Bob Crow says he will not listen to King at the congress. He told BBC Radio 5 live: "I'm all in favour of listening to Mervyn King after we have finished, but I believe [the conference] is to dec...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Watch Professional Adviser's Working Lunch with Schroders - Beyond the Pulse: Essential insights for financial advisers in 2025

Catch up on the discussion

Professional Adviser
clock 10 July 2025 • 1 min read
Investors 'do not understand' implications of private markets investing

Investors 'do not understand' implications of private markets investing

House of Lords Financial Services Regulation Committee looked at the issues

Linus Uhlig
clock 09 July 2025 • 1 min read
NextWealth MD Hopkins on staying ahead of advice sector changes, data challenges and flattening MPS fees

NextWealth MD Hopkins on staying ahead of advice sector changes, data challenges and flattening MPS fees

Making technology work better

Katrina Lloyd
clock 03 July 2025 • 9 min read