Mervyn King hits right note with TUC

Mervyn King is a skilled public performer, as the TUC delegates (or those that stayed in the hall) discovered. The governor of the Bank of England hit the right notes – anger at the banks, support for a clampdown on tax loopholes and an admission of policy mistakes. Strip all that away, however, and King's message was simple: he supports the cuts. The Bank and the unions are clearly not going to "work together", as King suggested they should. But George Osborne should heed the governor's lesson in presentation – proper banking reform is part of the story.