The Governor of the Bank of England, Sir Mervyn King, has said the UK's recovery "is in sight".
Speaking to ITV News' Economics Editor, Richard Edgar, he said: "'A reasonable judgment based on where we are today is that recovery is in sight".
"If you just take away for the moment what happened in the North Sea Oil production and in construction, the UK economy even last year grew by 1.5 percent.
"There is momentum behind the recovery that's coming and I think that during the course of 2013 we will see the recovery come into sight."
In the second of ITV News' exclusive interviews, a still-enthused Sir Mervyn King admits his main frustration during his tenure at the Bank.
Recovery is "in sight" for the beleaguered economy, the Governor of the Bank of England has told ITV News in an exclusive interview.