Chris Calls For Debate On Bank of England Missing Inflation Targets
Christopher Chope Conservative, Christchurch
May we have an early debate on the refusal of the Bank of England to comply with its 2% inflation target? Also, will the Leader of the House facilitate a meeting between me and Treasury Ministers to see whether the Government are willing to support my Bank of England (Inflation Targets) Bill, due for Second Reading on 11 July, which makes provision for penalties against the court of directors of the Bank of England for failure to meet inflation targets?
Lucy Powell Lord President of the Council and Leader of the House of Commons, Chair, Modernisation Committee, Chair, Modernisation Committee
We had Treasury questions earlier this week, when the hon. Gentleman could have raised those issues.
I am proud that the previous Labour Government gave the Bank of England independence, which has been an important part of the fiscal stability that we have had in this country—sometimes ignored by the hon. Gentleman’s Conservative Government and party, I am sorry to say. Inflation is on its way down and interest rates are on their way down—that is what this Government are delivering.
- ENDS
