Shadow chancellor Ed Balls has hit out at the “astonishing” lack of women on the Bank of England’s monetary policy committee.
The Guardian reports Balls hit out at the all-male membership of the 12-person MPC which sets interest rates and quantitative easing levels on a monthly basis.
The financial policy committee, responsible for maintaining financial stability, has just one woman out of 10 members, Dame Clara Furse. There has never been a female governor in the Bank’s 320-year history.
Appointments to the MPC and FPC and for Bank governor are made by chancellor George Osborne.
Balls says: “Look at one of the key economic decision-making bodies in our country. The MPC makes decisions that affect millions of women and men across our country. But there have been no women members of the monetary policy committee since June 2010, just a few weeks after this Government came to office.
“That is an astonishing state of affairs. I know the new governor, Mark Carney, is worried about this too, but the membership of this committee is not in his gift. The chancellor is solely responsible for appointments to the MPC.”
Balls said he would appoint women to the MPC if Labour wins the next election and “put it right”.
Last July, Governor Mark Carney agreed to put author Jane Austen on the £10 from 2017 after a row erupted over lack of female representation when philanthropist Elizabeth Fry was withdrawn from the £5 note.