George Osborne plots sensational comeback to REPLACE Lagarde as first Briton to head IMF

Mr Osborne has told friends he is considering a bid to replace outgoing head Christine Lagarde, who is set to become chief of the European Central Bank. The IMF was set up to co-ordinate and effectively police financial policy after the Second World War. The head of the IMF is usually European, while the head of the World Bank is traditionally American.

An appointment is expected in November and Mr Osborne believes he will have the backing of the US President Donald Trump and Chinese leader Xi Jinping.

He would need the backing of whoever becomes next Tory leader as David Cameron was able to block Gordon Brown’s bid to become IMF chief, London Evening Standard editor Mr Osborne has backed Boris Johnson to take charge at 10 Downing Street.

A European diplomat said “it is now more difficult for any British candidate to get the IMF job”, though the former Tatton MP backed Remain.

Mark Carney, whom Mr Osborne appointed as Bank of England Governor, could be a candidate with him holding dual Canadian and Irish citizenship but it is said he will focus on Canada when he leaves his current position.

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Other potential rivals are former Finnish Prime Ministers Alexander Stubb and Jyrki Kataininen, former Danish PM Helle Thorning-Schmidt and former Bank of Finland governor, Olli Rehn.

The Times reports that Mr Osborne is said to have pressed for Mr Cameron not to call a referendum in the first place, Theresa May sacked him on her first day.

He decided not to stand in Mrs May’s snap 2017 election and was replaced by Esther McVey, he refused to rule out a return to the Commons saying he did not “want to spend the rest of my life just being an ex-chancellor. I want new challenges”.

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Mr Osborne’s father was the co-founder of a wallpaper design company but he opted to study Modern History and not a financial-based degree at university.

After time as a journalist for The Daily Telegraph, he joined the Conservative Research Department ad become an MP in 2001 replacing independent Martin Bell in the Tatton seat.

All his roles on the frontbench were for finance-related positions.

In 2004, he became Shadow Secretary to the Treasury under Michael Howard.

Mr Howard promoted him to Shadow Chancellor following the 2005 general election after William Hague turned down the post, he stayed in the role until the Tories came to power in 2010 when he was given the actual position in Number 11, he held the position for the entirety of Mr Cameron’s premiership.



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