The Metro has reported that King told US economist David Hale that because of the severity of cuts needed to restore the health of the economy the winning party has little chance of being re-elected.
Hale says: “I saw the governor of the Bank of England last week – and he told me whoever wins this election will be out of power for a whole generation because of how tough the fiscal austerity will have to be.”
The Prime Ministerial Debate, aired on BBC1 last night, centered around the economy with the prospective leaders fielding questions about the extent of tax rises necessary and the depth of spending cuts.
A Guardian/ICM poll after the debate puts David Cameron, leader of the Conservatives, as the winner with 34%, with Labour on 29% and the Liberal Democrats on 27%.
Meanwhile a Populus poll for The Times had Nick Clegg, leader of the Liberal Democrats, level pegging with Cameron at 38%, while Brown trailed with 25%.