Treasury select committee chair Andrew Tyrie has called on the Government to consider the “widest possible spectrum” of applicants when appointing a new Bank of England governor.
Speaking at a CityUK fringe event at the Conservative conference in Birmingham last week, Tyrie said the Government should cast a wide net.
The Government has been inviting applications for the post and says it will make an appointment by the end of the year. The application deadline closed on October 8 and the successful applicant will take up the role on 1 July.
This is the first time the Government has publicly advertised for the position, with notices appearing in the Economist and on the Public Appointments website.
Tyrie said: “It is very important that the Government and chancellor should have the opportunity to choose from the widest possible spectrum of applicants and that should include people who may be non-nationals.
“We just want the best possible person for a very difficult job. The person will need to have a grip on the biggest single task of the next few years to make a success of the Financial Policy Committee and Prudential Regulation Authority.”
Tyrie repeated calls for the Government to accept a TSC pre-appointment hearing for the next governor.
He said: “In order to conduct that role they will need a higher level of legitimacy and moral authority with the electorate than previously. The governor will be acting very directly on people’s interests through possible things like loan-to-value ratios on mortgages.”
Treasury economic secretary Sajid Javid said: “It is a much bigger job because as well as running the central bank as the current governor does, his incumbent will also be responsible for financial stability. It is a big issue and it is not seen as easy job.”