COMMONS

Treasury Committee concerned about diversity on Bank's policy committees

20 October 2017

The Treasury Committee publishes its reports on the appointment of Sir Dave Ramsden as Deputy Governor of the Bank of England and of Professor Silvana Tenreyro as an external member of the Monetary Policy Committee.

The Committee has agreed that both of these appointments meet its requirements of personal independence and professional competence.

However, the Committee is concerned about the composition of the policy committees, and in particular about diversity at the most senior levels in the Bank of England. 

Rt Hon. Nicky Morgan MP, Chair of the Treasury Committee, has written to Rt Hon. Philip Hammond MP, Chancellor of the Exchequer, to express the concerns of the Committee.

Chair's comments

Commenting on the correspondence, Mrs Morgan said:

"The Treasury must make all efforts to encourage as diverse range of candidates for the Bank’s policy committees as possible.

An aim of the Commissioner for Public Appointments is to achieve greater diversity of public appointments. The Committee has asked the Treasury for its specific confirmation that it’s recruitment processes are within this remit.

The Committee may take evidence from the most appropriate minister or official on this shortly."

Further information

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