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© The Financial Times Ltd 2013 FT and 'Financial Times' are trademarks of The Financial Times Ltd.
Chris Giles is the Economics Editor of the Financial Times. Before that he was a leader writer.
He reports on international and UK economics and writes a fortnightly column on the UK economy.
E-mail Chris Giles
Sir Mervyn takes a walk on the supply side
The change suggests the pain endured thus far has been to little avail