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Is Gordon Brown looking to control the financial sector?

In his days as Chancellor of the Exchequer Gordon Brown was renowned for his ruthless domination of the Department and his wish to have total control over even the smallest matters. There is now speculation that, in league with Alistair Darling, Gordon Brown is looking to take over the direct regulation of the UK financial sector and leave his mark when he finally leaves office. But is this the best way forward?

When you consider that a number of tax changes by Gordon Brown during his time as Chancellor Exchequer have not assisted the financial position of the UK economy at this point in time, there is debate as to whether he should be so "hands-on". This is the man who is rumoured to have kept Tony Blair, the Prime Minster at the time, out of the loop regarding his budget proposals until the final hours. The fact that many believe Alistair Darling is something of a puppet for Gordon Brown also adds fuel to the fire that he is looking to wrestle control from Mervyn King at the Bank of England.

There is no doubt that friction between the UK government and the Bank of England is higher now than it has been for some time with little scope for an improvement in the short term.

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