View more on these topics

Tory MPs ‘filibuster’ Bank governor veto bill

The Labour MP behind a bill proposing a Treasury select committee veto over the appointment of the governor of the Bank of England has accused Conservative MPs of “filibustering” during its debate on Friday and potentially ending its chances of becoming law.

The Bank of England (Appointment of Governor) Bill was first on the list to be debated on Friday but talks concluded before a vote on whether it should go to the next Parliamentary stage. It is now fourth in the list to be debated again on July 13, though it may not be reached which would mean it has no chance of moving ahead.

Labour MP John McDonnell says Conservative MPs deliberately made lengthy speeches to force the bill down the agenda.

Several Conservatives including Stephen Hammond, Brandon Lewis and Joseph Johnson and Matthew Hancock made long speeches during the debate on the bill on Friday. SDLP MP Mark Durkhan accused them of being “greedy” with their use of time.

John McDonnell Labour MP 250

Speaking to Money Marketing, Labour MP John McDonnell says: “Yet again, a group of minor Tory MPs, organised by the Government, preferred to play puerile Parliamentary games rather than debate seriously the issue. In the coming period this appointment will be the most significant public appointment in generations and yet at the behest of their whips these lapdogs on the Tory backbenchers filibustered and talked out the bill, wasting away the chance of Parliament to have a decisive say on who is appointed.

“It is no wonder MPs and Parliament are held in such contempt by the public when they see this childing, grovelling behaviour.”

Speaking in the debate, Hancock said detailed scrutiny of the proposal is important. He said: “It matters to people that we get the management of the economy right. When it goes wrong, as it has in the past, that has a massive impact on our postbags.”

Lewis said: “It would be stage one of a drip-feed effect that changed the way in which select committees worked by changing their power from one of scrutiny to one that is linked to the executive.”

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com