§ Q10. Mr. Hamlingasked the Prime Minister what experience in economic matters he requires in those he appoints to senior posts in the Bank of England.
§ The Prime MinisterMembers of the Court of Directors of the Bank of England are appointed by Her Majesty The Queen on my recommendation. Experience in economic matters is one of the many factors which are taken into account.
§ Mr. HamlingIn view of the recent change at the top, can we expect that in future the Bank of England will support Her Majesty's Government's policy for a change?
§ The Prime MinisterThe Bank of England has had the right, and has expressed that right, to criticise successive Governments on one matter of great importance to successive Governors—the question of Government expenditure, if that is what my hon. Friend has in mind. I would add that I understand that the present Governor a few weeks ago praised this Government as having exercised a tighter grip on Government expenditure than any of their predecessors.
§ Sir C. OsborneWill the Prime Minister give an assurance that future Governors will be able to enjoy the same privilege of criticising the Government when they think that it is in the national interest so to do?
§ The Prime MinisterYes, Sir. Of course, Governors have always had that right. Ministers equally have had the right to reply when they have thought that the Governors were expressing views not borne out by the facts.