COMMONS

Treasury Committee to hold a pre-appointment hearing with Dr Mark Carney

26 November 2012

The Treasury Committee will hold what will amount to a pre-appointment hearing with Dr Mark Carney, who has been selected to be the next Governor of the Bank of England, before he takes up the role.

The Committee invites people to submit information that they believe will assist with this hearing.

Andrew Tyrie MP's Comments

Dr Carney is an experienced and talented appointee with deep public and private sector experience.

 

The Chancellor’s statement has been welcomed on all sides of the House.

 

I’m grateful that the Chancellor has offered his support for the Treasury Committee’s long-standing view that we should hold what amounts to a pre-appointment hearing and should report our conclusions to the whole House.

 

This is an important step forward.

 

The hearing will cover not only his professional competence and personal independence, but also his experience, leadership qualities and views on the need to strengthen the internal governance and accountability of the Bank to Parliament and to the public.

 

Such a hearing will better enable Parliament and the public to have confidence in his appointment.

 

But the benefits will flow both ways. Approval from the Treasury Committee would also provide the new Governor with greater authority and independence from the day to day pressures of politics and politicians which will come with his enhanced role.

 

If we feel it necessary, we will request that our recommendations be debated on the floor of the House.

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