Bank of England

David Ruffley Excerpts

Monday 26th November 2012 Commons Chamber

[Mr Osborne]

As I said, there were excellent British candidates, any of whom would have made a good Governor. In my judgment, though, Mr Carney was a better candidate. He was the only one who combined central banking experience, economics, experience of financial regulation and experience in the private sector. It says something about Britain that we have the self-confidence to go and get the very best in the world to serve as our Bank Governor.

[Mr David Ruffley (Bury St Edmunds) (Con)]

I welcome this bold announcement. The Chancellor is rightly concerned with the stability of the transition and has extended Dr Bean’s term, but does he wish the immensely able Paul Tucker to continue as deputy governor?

[Mr Osborne]

The very short answer is yes. Paul Tucker has been an excellent deputy governor, and I hope he continues to do his excellent job at the Bank of England.