§ Mr. Campbell-SavoursTo ask the Chancellor of the Exchequer (1) if he intends to consult with members of the official Opposition on the appointment of a replacement deputy governor of the Bank of England; [16302]
(2) what account is taken of conflicts of interest in appointing a replacement deputy governor to the Bank of England; [16304]
(3) if the contract for the appointment of a replacement deputy governor of the Bank of England will preclude severance, redundancy, or ex-gratia payments for termination of appointment for loss of earnings during any remaining contract period after the next general election; [16303]
(4) if he will publish the terms and conditions of the contract in the case of the appointment and employment of the replacement deputy governor of the Bank of England. [16305]
517W
§ Mr. Nelson[holding answer 27 March 1995]: The appointment and employment of the deputy governor is covered by the Bank of England Act 1946 and the bank's charter. The deputy governor is required to give his exclusive services to the bank. The terms and conditions of employment of the deputy governor are matters for the bank's court of directors who act on the advice of the remuneration committee of non-executive directors. It is not the bank's practice to publish details beyond what is included on remuneration in the bank's annual reports and accounts.
It is not the practice to consult members of the official Opposition about appointments of deputy governors of the Bank of England.