§ 28. Ms KinghamTo ask the Chancellor of the Exchequer if he will publish the representations he has received on his reforms to the Bank of England. [12676]
§ Mr. DarlingThe Bill that was published on 28 October will put on a statutory footing the important reforms to the Bank of England, which we announced in May. These reforms have been widely welcomed and will be a significant step towards reducing short-termism and putting decision making on the right basis to deliver the long-term growth and employment that is a major objective of our economic policy. The Bill also represents a major move toward creating the single regulator that will deliver more effective and efficient regulation for financial services.