The Rt. Hon. Sir John Major KG CH

Prime Minister of Great Britain and Northern Ireland 1990-1997

1995Prime Minister (1990-1997)

PMQT Written Answers – 29 March 1995

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Below is the text of the written answers relating to Prime Minister’s Question Time from 29th March 1995.

PRIME MINISTER:

 

Bank of England

Mr. Austin Mitchell: To ask the Prime Minister if he approved the statement of Government policy set out in paragraph 5 of the Bank of England press release of the text of the Deputy Governor’s speech to the City branch of the Institute of Directors on 13th December 1993.

The Prime Minister: As stated in the 1995 96 Financial Statement and Budget Report, the role of monetary policy is to deliver low inflation. The Deputy Governor’s speech to the City branch of the Institute of Directors was fully consistent with the Government’s monetary policy.

Mr. Austin Mitchell: To ask the Prime Minister whether the appointment of the Governor or Deputy Governor of the Bank of England requires or receives (a) Cabinet approval and (b) positive security vetting.

The Prime Minister: Appointments of Governor and Deputy Governor of the Bank of England are made by Her Majesty the Queen on the advice of the Prime Minister. The posts are subject to security vetting procedures.