ELECTION OF THE GOVERNOR OF THE BANK OF ENGLAND

Early day motion 220, tabled 9 July 1997 by Nicholas Winterton (Conservative). Signed by 3 members.

That this House notes the decision of the Chancellor of the Exchequer to relinquish to the Governor of the Bank of England control over the setting of interest rates; observes that this places beyond effective Parliamentary or democratic control executive authority over the whole of the United Kingdom economy; believes that such power should be responsibly balanced by the introduction of public accountability; and therefore urges Her Majesty's Government urgently to bring forward proposals to ensure that in future the Governor of the Bank of England is directly elected by the people of this country.

Signatures by party: Labour 2, Conservative 1.