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'There's no money' note revealed

The infamous letter written by outgoing Chief Secretary to the Treasury Liam Byrne to his successor David Laws, telling him "I'm afraid there is no money," has been shown for the first time to ITV News West Country.

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Liam Byrne says his 'no money' note was 'foolish'

Liam Byrne has admitted to ITV News West Country that his note to his successor David Laws that said "I'm afraid there is no money" was "foolish":

Of course it was a very foolish thing to do.

I left something else at the Treasury, which was a Budget I'd drawn up with Alistair Darling that would have halved our deficit over four years.

That was a good plan, it was a plan that would have worked and I'm afraid it was a much better plan that we've ended up with now.

– Former Chief Secretary to the Treasury Liam Byrne

Laws 'did not set out to embarrass Byrne' over note

David Laws has told ITV News West Country he had not meant to cause any embarrassment to his Labour predecessor at the Treasury, Liam Byrne, when he publicly mentioned the note left for him.

See the note here.

Mr Laws said: "I didn't set out particularly to embarrass Liam, but he'd left a note which frankly does sum up precisely the state of the Treasury when he left it - which was completely empty of money."

Watch ITV West Country political correspondent Bob Constantine's report.

MP did not expect reaction to 'there's no money' note

David Laws has spoken exclusively to ITV News West Country about the now infamous note he received on his first day at the Treasury from his Labour predecessor saying "there is no money."

See the note here.

The former Chief Secretary to the Treasury said: "I really didn't regard it as a big thing and I only mentioned it almost by accident at a press conference that we held a few days in to the government, not expecting rather naively, the huge reaction that it got."

Watch ITV West Country political correspondent Bob Constantine's report

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Infamous Liam Byrne Treasury memo seen for first time

The infamous letter written by former Treasury Chief Secretary Liam Byrne to his successor David Laws, telling him "I'm afraid there is no money," has been shown for the first time to ITV News West Country's political editor Bob Constantine.

The letter left by Liam Byrne for his successor David Laws. Credit: ITV News

The letter, which was dated April 6, 2010, says "Dear Chief Secretary, I'm afraid there is no money. Kind regards and good luck! Liam."

Read more at ITV News West Country

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