You can say what you like about George Osborne, unless it’s defamatory, but he certainly knew how to make problems for future chancellors.
In November 2012, Osborne wrote to the then governor of the Bank of England, Mervyn King, to confirm that he would very much like to receive the “excess cash” that had started to rattle around in the Bank’s bond-buying arm, the Asset Purchase Facility (APF), as a result of quantitative easing (QE).
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