Mervyn King is warning that the victor in next week's election will be forced into austerity measures that will keep the party out of power for a generation, according to the US economist David Hale.
Dragging the Bank of England governor unwittingly into Britain's political battle, David Hale said he had been told by King at a private lunch about the likely fiscal pain ahead.
I think he's wrong.
There's a reason.
No party will never succeed in imposing these cuts.
There is only one answer - and it is tax reform of the sort I am suggesting.
That's the only viable plan there is for our economy.