Orders of the Day — The Economy

Part of the debate – in the House of Commons at 3:58 pm on 24th November 1999.

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Photo of Peter Tapsell Peter Tapsell Conservative, Louth and Horncastle 3:58 pm, 24th November 1999

Would the right hon. Gentleman allow me to put a question to him? If he is so very convinced of the desirability of an independent Bank of England why, when he set up the new arrangements shortly after the election, did he take care to keep the power to override the Monetary Policy Committee and the Governor of the Bank of England if he thought it necessary in a national crisis?