Bill · started in the Commons
Bank of England (Appointment of Governor) Bill
A Bill to provide that the appointment and dismissal of the Governor of the Bank of England be subject to the consent of a Committee of the House of Commons; and for connected purposes.
In progress
Current stage: 2nd reading (Commons)
The story so farThe Bank of England (Appointment of Governor) Bill was introduced in the House of Commons on 20 June 2012 by John McDonnell (Labour). It is now at second reading in the House of Commons. Second reading is the first debate on the overall principle of the bill; if the bill clears it, detailed committee scrutiny follows.
What the bill does
<p>The purpose of the Bill is to give the Treasury Select Committee, or its successor bodies, the power to consent to the appointment of the Governor of the Bank of England. The immediate stimulus for this is the substantial increase in powers that would be given to the Bank of England under the Financial Services Bill 2012-13.</p><p>The Bill would represent an enhancement of the powers of the Select Committees in the Commons, in that the Treasury Committee is given a statutory veto over appointment. The Governor of the Bank of England is a post of major importance in the UK economy. Other Select Committees hold pre-appointment hearings for other major bodies, but this does not give them a veto, nor is this right set out in statute.</p>
Progress through Parliament
- 1st reading Commons 20 Jun 2012
- 2nd reading Commons Current
Source: the official bill page. Last updated 26 Apr 2013.