Darling Inherits a Fraying U.K. Economy as Brown's Successor at Treasury

(Bloomberg) -- Alistair Darling, Britain's new
chancellor of the exchequer, faces what may be the toughest task
in Prime Minister Gordon Brown's government: steering a fraying
economy with Brown looking over his shoulder.

Brown, who as chancellor oversaw the longest expansion in
two centuries, appointed the 53-year-old Darling as his
successor yesterday. Darling worked under Brown at the Treasury
in 1997, then ran the Departments of Trade and Industry and of
Work and Pensions for former Prime Minister Tony Blair.


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Tony Blair Retires as U.K. Prime Minister, Hands Power to Gordon Brown

(Bloomberg) -- Tony Blair retires today as U.K.
prime minister and hands power to Chancellor of the Exchequer
Gordon Brown, who will bid to restore the ruling Labour Party's
flagging popularity and ensure a fourth straight election win.

Blair, 54, was Labour's most successful leader, winning
three elections since 1997. He forced the Conservative opposition
to support the National Health Service and to drop a long-
cherished commitment to tax cuts, then lost support by joining
the invasion of Iraq in 2003. He still defends the decision.


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