'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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Liam Byrne says his 'no money' note was 'foolish'

Liam Byrne has admitted to ITV News West Country that his note to his successor David Laws that said "I'm afraid there is no money" was "foolish":

Of course it was a very foolish thing to do.

I left something else at the Treasury, which was a Budget I'd drawn up with Alistair Darling that would have halved our deficit over four years.

That was a good plan, it was a plan that would have worked and I'm afraid it was a much better plan that we've ended up with now.

– Former Chief Secretary to the Treasury Liam Byrne

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