Bank of England and Financial Regulation
House of Commons debates, 20 May 1997, 3:33 pm
Mr Damian Green (Ashford, Conservative)
Will the Chancellor acknowledge that Opposition Members are genuinely afraid that the Government are prepared to ride roughshod over the interests of Parliament? In light of that, will he consider giving the House some say in appointing the members of the Monetary Policy Committee and the two deputy Governors? For instance, will he consider allowing the Treasury Select Committee to interview the candidates before they are appointed, and, if necessary, approve the appointments? Will he further acknowledge that, if he does not make such a gesture, the so-called operational independence of the Monetary Policy Committee will be seen as something of a sham?