'There's no money' note revealed

The infamous letter written by outgoing Chief Secretary to the Treasury Liam Byrne to his successor David Laws, telling him "I'm afraid there is no money," has been shown for the first time to ITV News West Country.

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Laws 'did not set out to embarrass Byrne' over note

David Laws has told ITV News West Country he had not meant to cause any embarrassment to his Labour predecessor at the Treasury, Liam Byrne, when he publicly mentioned the note left for him.

Mr Laws said: "I didn't set out particularly to embarrass Liam, but he'd left a note which frankly does sum up precisely the state of the Treasury when he left it - which was completely empty of money."

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