King plays down rift with Darling
Bank of England Governor Mervyn King has played down reports of a rift with the Chancellor - but admitted he had not yet been consulted on an imminent Treasury White Paper on banking reform.
Mr King, who last week clashed with Alistair Darling when he called for the Bank to be given more powers, told the Treasury Select Committee he "talked often" to Mr Darling and had a "good working relationship" with him.
But when asked whether he had been consulted over the paper expected next week, he said: "Well, it all depends on your definition of consultation."
He added: "I've not seen a draft of it, but no doubt we will have a chance to see it before it appears."
On further questioning from committee chairman John McFall and deputy Michael Fallon, he added: "I have not been consulted on what will be in the White Paper and I haven't seen a draft of it, but no doubt I will and there is still time to be consulted on it before it appears...
"I'm sure the Chancellor will show it to me before it appears."
"It doesn't sound like consultation, showing it to you before it appears," said Mr Fallon.
"Well it depends what is meant by consultation - White Papers tend to be written somewhat faster these days than they used to be," the Governor replied.
"I do not know what will be in the White Paper. Whether anybody else does, I don't know, but no doubt we will discover what is in the White Paper."
