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Select committee: Economic Affairs Committee

Recommendation 16

1st Report - Making an independent Bank of England work better Published 27 Nov 2023 Paragraph 162

Economic Affairs Committee Bank of England: how is independence working? All items in this report Report on parliament.uk ↗ Inquiry on parliament.uk ↗

Recommendation (the committee's words)
We recommend that the annual remit letters for the Monetary Policy Committee and Financial Policy Committee should be published in draft to allow sufficient scrutiny of them. The final remit letters should be laid before both Houses of Parliament and accompanied by an oral statement in each House. We believe this would enhance both parliamentary scrutiny and public debate on the remits of the Bank set by the Chancellor.

From: Economic Affairs Committee, 1st Report - Making an independent Bank of England work better, paragraph 162, 27 November 2023

Government response

A response document is linked to this report, dated 7 February 2024. Response attribution to this recommendation has not been verified. Read the response document ↗