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Osborne: Carney is 'the best for Britain'

The Chancellor told MPs that Mark Carney was "the outstanding central banker of his generation with unparalleled expertise in financial regulation".

"He will bring a fresh perspective," Mr Osborne told MPs. "He has got what it takes to help bring families and businesses through these incredibly challenging economic times.

"My responsibility was to get the best for Britain, and with Mark Carney we've got that."