Spin at the Treasury

The Independent has a fascinating piece today from its economics editor Sean O'Grady, looking at the Treasury's spin machine, currently being deployed against the Bank of England:

The Treasury's panzers are the modern ways of manipulation – anonymous smearing, leaks and spin.
...
A number of old-style press officers were eased out in New Labour's early days. As a result, the Treasury was well able to get down and dirty, this time at Balls' expense. Don't forget, either, that this is the department of state that once gave Charlie "Bollocks" Whelan a berth, and was also the nursery of one Damian McBride, the man who gave us an "email campaign of hate" against the Tories, as the tabs called it.

In New Labour's early days, our current PM was in charge, of course.