"Thank you, Madam Deputy Speaker. I will follow that guidance.
I am equally concerned that giving the Treasury Committee a veto over the dismissal of a Governor could, in certain circumstances, create an unacceptable situation in which the Governor has lost the confidence of the Government but hangs on as …..." Lord Johnson of Marylebone - View Speech
"Yes, I could not agree more with my hon. Friend. Like other Members who I will not mention again, I think that it would be far preferable for the Treasury Committee, if it is to have a formal role in any appointment of the Governor of the Bank of England, …..." Lord Johnson of Marylebone - View Speech
"My hon. Friend is right. It is important to focus on the substance of what needs to change at the court, rather than on the men in pink coats and the silver platters. That means ensuring that members of the court, or the supervisory board, as the Treasury Committee would …..." Lord Johnson of Marylebone - View Speech
"I thank the Minister for that intervention. The Governor can be removed only with the assent of the court of the Bank of England, but the chairman of the court is not at present a statutory consultee in the appointment of the Governor. One of the means of strengthening the …..." Lord Johnson of Marylebone - View Speech
"The shadow Chancellor seemed to suggest that the Chancellor was passing the buck to the Bank of England, and that the Bank was somehow conniving in LIBOR lying. Will the Chancellor confirm that the Financial Services Authority, in its investigation, found no evidence to suggest that the Bank of England …..." Lord Johnson of Marylebone - View Speech
"Does the hon. Gentleman recognise that UK gilt yields are at an historic low, and that we would be taking a tremendous risk with them if we moved away from an economic policy that no less a person than the Governor of the Bank of England has described as the …..." Lord Johnson of Marylebone - View Speech
"My right hon. Friend rightly says that a well funded IMF and a bigger eurozone bail-out fund cannot be the whole solution to the eurozone crisis. Does he believe now that the overriding priority must be steps towards debt mutualisation and the structural reforms to address the underlying competitiveness issues …..." Lord Johnson of Marylebone - View Speech
"Hard-working commuters and others in Orpington who depend on Southeastern trains have for years been hit by a fare increase regime of RPI plus 3%. May I therefore welcome my right hon. Friend’s decision to cap rail increases at RPI plus 1%, which will provide hard-working families with much needed …..." Lord Johnson of Marylebone - View Speech
"According to the BBC’s economics editor, Stephanie Flanders, the European Commission said this morning that any country that left the euro would also have to leave the European Union. Is that the Government’s understanding of the EU treaties?..." Lord Johnson of Marylebone - View Speech
"RBS shares have jumped 7% this morning in response to the eurozone statement. Does the Chancellor share the markets’ view that British banks are sufficiently capitalised to withstand not just the haircut to Greek debt, but any other eventualities that might arise in the eurozone over the next few months?..." Lord Johnson of Marylebone - View Speech