Bank of England

Lord Austin of Dudley Excerpts

Monday 26th November 2012 Commons Chamber

[Mr Osborne]

I will not make the mistake of the last Prime Minister and claim to have abolished boom and bust. I do not know which young adviser of his put that idea into his mind. [Interruption.] With transparent and independently audited public finances, an excellent central bank Governor and new responsibilities for the Bank of England, we have a better framework than the one that we inherited.

[Ian Austin (Dudley North) (Lab)]

Is it not the case that Mr Carney ruled himself out some months ago? So what does the Chancellor think changed his mind—could it have had anything to do with Labour’s new lead in the opinion polls and the new Governor’s long-standing friendship with the shadow Chancellor?