Lord Mervyn King has warned the chancellor will not be able to turn the UK economy around in a meaningful way for "years". The former governor of the Bank of England was speaking to Sunday Morning with Trevor Phillips ahead of the chancellor's autumn budget next month. Asked how much trouble the UK economy is in, he replies that "it's not a disaster, but it is a serious problem". Read more: https://news.sky.com/story/politics-latest-labour-vote-collapses-ahead-of-key-elections-next-spring-