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LibDems in scathing attack on Osborne

LibDem Treasury spokesman Lord Oakeshott has launched a scathing attack on Conservative Shadow Chancellor George Osborne, claiming that the City does not believe he is up to the job.

Speaking at the party’s conference in Bournemouth, Oakeshott said: “I am going to tell you what the City really thinks of George Osborne. I have been round the block and know what City people are saying to each other and it is crystal clear – George Osborne is just not fit to be Chancellor.”

Oakeshott quotes a senior City figure as saying: “When George comes to see us, he hasn’t prepared, he isn’t properly briefed, he isn’t interested in our business, he doesn’t understand how it – or perhaps any business – works.”

He adds that a leader in the insurance sector told him: “I really wonder if George knows the difference between a bank and an insurance company” and quotes a top fund manager as saying: “People in our area are unconvinced he has the technical grasp of what financial services are about and the depth of the challenge.”

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