Osborne set to back Sir Mervyn in bitter battle over Bank rules
George Osborne is set to come down on the side of Sir Mervyn King in the increasingly bitter battle between the Bank of England governor and the Treasury Select Committee over how the Bank ought to be supervised.
The committee argues in a report published today that the proposals put forward by Sir Mervyn, below, and the Bank's ruling court last week to create a new "oversight committee" for the Bank would not make the institution sufficiently accountable to Parliament for future controversial decisions it might make.
"The Bank's proposed remedy...falls well short of what is required" said Andrew Tyrie, the Chairman of the Treasury Committee. "The Bank needs a proper Board - fit for the 21st century". The report also argues that the Bank of England has still not been held properly accountable for its performance in the 2008 financial crisis.
Pour citer cette ressource :
"Osborne set to back Sir Mervyn in bitter battle over Bank rules", La Clé des Langues [en ligne], Lyon, ENS de LYON/DGESCO (ISSN 2107-7029), janvier 2012. Consulté le 07/12/2023. URL: https://cle.ens-lyon.fr/anglais/archives/archives-revue-de-presse/osborne-set-to-back-sir-mervyn-in-bitter-battle-over-bank-rules