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Awaz Apni: New Govt Has 'Clear' Focus On Cutting Deficit

AWAZ APNI: The Conservative and Liberal Democrat coalition has a "very clear and binding commitment" to cut the nation's deficit, according to the Bank of England Governor. Mervyn King said he had been told of their economic proposals and was pleased by their focus. The Governor said the deficit was the "single most pressing problem facing the UK" and that would take a full parliament to deal with it. He added that markets were waiting for a very strong signal from the new administration - and expressed confidence that they would soon see a clear plan. "I have been told what is in the agreement between the Conservatives and Liberal Democrats this morning and I am very pleased that there is a very clear binding commitment to accelerate the reduction in the deficit," he said. Despite there being signs of economic recovery, Mr King re-emphasised that the financial crisis was "far from over". His comments came as the latest unemployment...

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