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Next government 'faces public backlash'

Mervyn King has reportedly said that the next government will become so unpopular after its tax increases and cuts in spending that it will be kept out of power for three decades.

The governor of the Bank of England was said to have made the comments in private to US economist David Hale, who went on to reveal them in the Australian media.

It has been widely accepted that the next government, regardless of political ideology, will have to make cuts in potentially sensitive areas of public services.

Alongside this, it will be required to raise taxes in order to plug the deficit of almost £170 billion.

Mr Hale told ABC TV: "I saw the governor of the Bank of England [Mervyn King] last week when I was in London 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."
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