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Conservatives to offer Lord Turner senior BoE role

FSA chairman Lord Turner is expected to be offered a senior role at the Bank of England if the Conservative party comes to power, according to The Times.

The newspaper says the Tories plan to create a new position of third deputy governor, responsible for the regulation of banks.

In July the Conservatives said they would abolish the FSA and pass prudential powers to the Bank of England if elected. It would also set up a new body, the Consumer Protection Agency, to regulate advisers.

A spokesman for Shadow Chancellor George Osborne told The Times: “George has a high regard for Lord Turner’s ability but has absolutely not started handing out jobs to anyone.”

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