UK chancellor agrees with King prediction of ‘choppy recovery’

George Osborne, the chancellor of the exchequer, agrees with the governor of the Bank of England that the UK economy faces a “choppy recovery”.

Osborne agrees: The depth of the debt crises and the underlying economics generally will make for a stormy recovery

In a speech to Bloomberg Osborne says we must remain cautious and that inflation is proving more persistent than expected.

He adds: “I agree with Mervyn King when he said last week that we are likely to face a choppy recovery.

“To expect a smoother ride after the biggest economic crisis of our lifetimes, is asking too much.”