Soros backs Labour for government

George Soros, the financier whose speculation against sterling helped eject the pound from the European Exchange Rate Mechanism in 1992, said he would support Labour at the next general election.

Mr Soros, who is in London for the launch of his new book, Soros on Soros, said that he was "strongly in favour" of European Monetary Union and saw a Labour government as more likely to be able to engineer British membership.