Jump to content
House Price Crash Forum
Sign in to follow this  
karhu

Tories Seek Overhaul Of Monetary Policy Committee

Recommended Posts

Tories seek overhaul of Monetary Policy Committee

By Chris Giles, Economics Editor

Published: March 13 2006 08:25 | Last updated: March 13 2006 08:25

Mervyn King and the other Bank of England staff on the monetary policy committee could be outnumbered on the interest rate setting body by externally appointed members, under plans to be floated on Monday by the Conservatives.

George Osborne, the shadow chancellor, has proposed the idea of strengthening the independence of interest rate decisions by ending the majority of Bank staff on the committee.

At present the nine-person MPC comprises five internal Bank officials, including the governor, and four government-appointed outsiders.

http://news.ft.com/cms/s/b24b5060-b20e-11d...20abe49a01.html

Share this post


Link to post
Share on other sites
Guest Riser

Ddn't last months shadow MPC vote for a cut in rates, they could be even more dangerous for the economey than Brown's muppets !

Share this post


Link to post
Share on other sites

True independance would be to let the MPC decide what constitutes inflation.

I think you are a bit unfair - How does the price of oil, council tax and other ancilliary factors affect inflation. Gordon would have included them in his figures if they did.

;):lol:

Share this post


Link to post
Share on other sites

I think you are a bit unfair - How does the price of oil, council tax and other ancilliary factors affect inflation. Gordon would have included them in his figures if they did.

;):lol:

I don't think the RPI or RPI-X measures tell too different a story to CPI, do they?

Share this post


Link to post
Share on other sites

Surely it was setup to be independent of the government influence. The problem is that if the government are responsible for selecting the members, then it will never be independent!

Make the bank truly independent and allow it to promote people based on skill, not how much money they have bunged the government in the past.

Share this post


Link to post
Share on other sites

The Tories keep coming out with some daft comments. I'm beginning to doubt I made the right choice in the last election! Lets get some agony aunt on the MPC too!

Share this post


Link to post
Share on other sites

Talk about doublespeak, they will be "strengthening the independence" of the MPC by removing the few remaining independent members? I'd rather have the BoE choosing people than HM Treasury.

This is pure puppetry of the Brown variety. First the news about Krusty Allsop and now this, the Conservatives are really pushing the boat out.

Share this post


Link to post
Share on other sites

The Tories keep coming out with some daft comments. I'm beginning to doubt I made the right choice in the last election! Lets get some agony aunt on the MPC too!

Yup! The Tories are terminally dreadful, screwed up the economy big time (two recessions) flogged our national assets off, and were generally odious for 18 years.

Now PoshBoy Cameron thinks Tony Blair is the man to imitate and showed his grasp of economic sense by appointing George Osborne as shadow chancellor. And you ever took these people seriously?!

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.