The Economy

Part of Opposition Day — [18th Allotted Day] – in the House of Commons at 1:49 pm on 22nd June 2011.

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Photo of Edward Balls Edward Balls Shadow Chancellor of the Exchequer 1:49 pm, 22nd June 2011

When we reformed the Bank of England in 1997, we introduced a second deputy governor for financial stability. It was the job of the deputy governor in the Bank of England to monitor those things, and what has the Chancellor now done? He has added a third deputy governor, so there are now going to be three, and that is a more complex system. He is making a political case, but I do not know whether he even understands the financial and economic case.