I’ve called on the Chancellor Sajid Javid to make the shortlist of candidates for the next Bank of England governor public, to ensure public scrutiny of this important role.
I’m extremely concerned that the government might bypass the selection process, as George Osborne did with his appointment of Mark Carney, to install a political ally who did not otherwise make the shortlist. Publishing the shortlist with candidates’ consent would reveal what options are available to the government and crucially allow Parliament to offer scrutiny during the appointment process, instead of the opportunity to do so being limited only to the Treasury Select Committee’s pre-appointment hearing, which takes place after the decision has already been made.
In the letter, signed by 28 Parliamentarians from across the political spectrum we say: “With so much at stake, it’s crucial that the appointment of the next governor is made on merit, not narrow political expediency. For public trust in the central bank to be upheld, the process for choosing Mark Carney’s successor must be fair, open and transparent.”
Read the full letter here: