Gordon Brown is downplaying talk of general election at his government grapples with the fallout from the expenses scandal that has further clouded his reign. He says a general election will not solve the problem. Perhaps not, but it will almost certainly turn the Labor government out of office if an election were held today.
Government’s tend to come with a sell-by date, and after nearly 12-years, Labor seems to be close to, if not past its prime…familiarity breeds contempt, as the old saying goes.
Earlier today, the speaker of the House of Commons was forced to resign as a result of the scandal.
Cable is drifting back below 1.55 having been supported by heavy buying from the Midde East, the BIS and US custody banks today. It is now at 1.5470.
