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Lib Dems demand more independence for Bank of England

The Liberal Democrats are proposing plans to increase the independence of the Bank of England by changing the way the Monetary Policy Committee members are appointed.

The Lib Dems say the independence of the Bank is being compromised by the Chancellor&#39s power to appoint MPC members, who are directly responsible for the setting of interest rates.

They propose more transparency in the selection of MPC members with formal hearings by the Treasury Select Committee, and an increase in the term of members to six years from a maximum of five years which would become non-renewable.

Liberal Democrat Shadow Chancellor Matthew Taylor MP says: “The Chancellor refuses to tell us how he appoints MPC members, yet their decisions effect every family and business in Britain.”

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Lib Dems want more independence for Bank of England

The Liberal Democrats are proposing plans to increase the independence of the Bank of England by changing the way the Monetary Policy Committee members are appointed. The Lib Dems say the independence of the Bank is being compromised by the Chancellor&#39s power to appoint MPC members, who are directly responsible for the setting of interest […]

Tax reforms open up German retail market

Although Germany is often perceived as an economic leader in Europe, the German retail investment scene is still relatively undeveloped in comparison with the US and UK.A 1997 Lipper survey revealed that as many as 41 per cent of German households kept their savings as simple bank deposits, with only 9 per cent investing in […]

Perpetual chairman Martyn Arbib…

Perpetual chairman Martyn Arbib finally sold his business to US fund manager Amvescap last week for £1.05bn. The sale sees one of the few remaining British fund managers fall into foreign hands. The resulting company will become the second-biggest retail fund manager in the UK behind Fidelity.Both Perpetual and Invesco will remain separate for the […]

Nationwide helping members go online

Nationwide is promoting its online banking service by offering members discounts on home PCs.Members can get 7 per cent off the price of a new PC from Dan Technology. If they buy the computer with a Nationwide credit card, they can also get six months&#39 interest-free credit. There is a further £20.64 discount on Dan&#39s […]

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