Lord O'Donnell on civil servants and rating agencies

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The former Cabinet Secretary Gus O'Donnell, who chairs the Legatum Institute's Well-Being Commission, said he was "extremely happy" he could now "come on the TV and say what I really think".

He claimed that civil servants were "under-valued" and he commented on the government's policies on spending and cuts.

He said: "The policy I hope is not being designed around credit rating agencies. The credit rating agencies haven't exactly got a great fantastic record on this process."

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