Former Labour minister, City grandee and chair of Guardian Media Group, hailed by Gordon Brown

Paul Myners, the City grandee and former Labour minister brought in to government to tackle the 2008 financial crisis, has died at the age of 73.

Regarded as an influential figure in both the square mile and politics for his time advising the former prime minister Gordon Brown on the historic bailout of the British banking system, Baron Myners, of Truro in the county of Cornwall, died in the early hours of this morning.

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