Dr King, our finances need a shot in the arm

Sir Mervyn King took a break from the woes of the economy yesterday as the Bank of England Governor picked up an honorary doctor of civil law degree from the University of Kent.

Meanwhile, the Bank's chief economist, Spencer Dale, said he believed that while the economy was not getting worse, "we're not yet seeing any signs of very strong growth".

"For most people, if you ask them what's happening to business conditions now, the adjective I hear is 'it's sort of flat'," said Mr Dale, in an interview with the Yorkshire Post.