BANK OF ENGLAND AND DEVOLVED ADMINISTRATIONS

That this House calls on the Governor of the Bank of England to hold talks with the Economic Ministers of the devolved administrations and to appear before the relevant devolved legislature committees in order to gain a fuller picture of the effect of monetary policy upon the economies of the nations of the sterling zone; notes that the Governor holds meetings with the Chancellor of the Exchequer and appears before the Treasury Select Committee; further notes the increasing fiscal independence of the devolved nations following tax-varying and borrowing powers; and calls on the Bank of England to consider the economies of the entire sterling zone when formulating monetary policy.