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King called on to back British economy

Alexander Hall chief operating officer Andy Pratt is calling on Bank of England governor Mervyn King to show solid support for the UK economy.

Pratt says the financial markets are getting little backing from the Bank of England or the Government, with King notable by his absence from the public eye.

He says: “Where is Mr King? I am pretty sure that the previous Bank of England governor would have been out there in the public eye, pushing the positive points and making speeches.”

Pratt adds that the Bank of England needs to pump more funding into the market to ease the current pain.

Highclere Financial Services partner Alan Lakey says: “King’s only obligation to the Government is to ensure that inflation is in a certain parameter. That is the weakness of giving the Bank of England independence.

“King has shown that he is not an interventionist and believes in markets following their own course.”

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