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Naturally, there has been criticism of the Bank of England, given the level of inflation and its inflation target, but among that criticism there have been reports that some in government, including perhaps one member of the Cabinet, have been suggesting that the independence of the Bank of England should be removed. Does my right hon. Friend agree that it is essential that our central bank is independent in order to maintain the credibility and integrity of our monetary policy? Will he give a categorical assurance to the House that there are no plans of any kind to restrain the independence of our central bank?

Asked by
Mel Stride (Conservative)
Topical questions - Supplementary
Status
Answered
Date
17 May 2022
Reference
714 c538
House
House of Commons

I thank my right hon. Friend the Chair of the Select Committee for his important intervention. I agree with him wholeheartedly. While we face challenges at the moment, the record of 25 years of central bank independence speaks for itself, with an average inflation rate of exactly 2%. I know all colleagues will want to make sure that we return to that as swiftly as possible, and I can assure him that that is both my and the Governor’s ambition.

Answered by
Rishi Sunak (Conservative)
Type
Oral answers to questions
Date
17 May 2022
Reference
714 c538
House
House of Commons

My right honourable friend the Chancellor of the Exchequer (Sajid Javid) has today made the following Written Ministerial Statement.

A meeting of the Economic and Financial Affairs (ECOFIN) Council was held in Brussels on 21 January 2020. The Council discussed the following:

Early Morning Session

The Eurogroup President briefed the Council on...

Member
Earl of Courtown (Conservative)
Department
Treasury
Type
Written statements
Date
30 January 2020
Reference
HLWS81
House
House of Lords

A meeting of the Economic and Financial Affairs (ECOFIN) Council was held in Brussels on 21 January 2020. The Council discussed the following:

Early Morning Session

The Eurogroup President briefed the Council on the outcomes of the 20 January meeting of the Eurogroup, and the European Commission provided an update on...

Member
Sajid Javid (Conservative)
Department
Treasury
Type
Written statements
Date
30 January 2020
Reference
HCWS83
House
House of Commons

A meeting of the Economic and Financial Affairs Council (ECOFIN) was held in Luxembourg on 10 October 2019. The UK was represented by Mark Bowman (Director General, International Finance, HM Treasury). The Council discussed the following:

Budgetary Instrument for Convergence and Competitiveness for the Euro Area

The European Commission presented the...

Member
Sajid Javid (Conservative)
Department
Treasury
Type
Written statements
Date
22 October 2019
Reference
HCWS30
House
House of Commons

My right honourable friend the Chancellor of the Exchequer (Sajid Javid) has today made the following Written Ministerial Statement.

A meeting of the Economic and Financial Affairs Council (ECOFIN) was held in Luxembourg on 10 October 2019. The UK was represented by Mark Bowman (Director General, International Finance, HM Treasury). The...

Member
Earl of Courtown (Conservative)
Department
Treasury
Type
Written statements
Date
22 October 2019
Reference
HLWS29
House
House of Lords

My right honourable friend the Chancellor of the Exchequer (Sajid Javid) made the following Written Ministerial Statement last week.

A meeting of the Economic and Financial Affairs Council (ECOFIN) will be held in Luxembourg on 10 October 2019. The Council will discuss the following:

Budgetary Instrument for Convergence and Competitiveness for the...

Member
Earl of Courtown (Conservative)
Department
Treasury
Type
Written statements
Date
8 October 2019
Reference
HLWS1819
House
House of Lords

A meeting of the Economic and Financial Affairs Council (ECOFIN) will be held in Luxembourg on 10 October 2019. The Council will discuss the following:

Budgetary Instrument for Convergence and Competitiveness for the Euro Area
The European Commission will present the governance framework on the budgetary instrument for convergence and competitiveness for...

Member
Sajid Javid (Conservative)
Department
Treasury
Type
Written statements
Date
8 October 2019
Reference
HCWS1857
House
House of Commons

My right honourable friend the Chancellor of the Exchequer (Philip Hammond) has today made the following Written Ministerial Statement.

A meeting of the Economic and Financial Affairs Council (ECOFIN) was held in Brussels on 17 May 2019. The UK was represented by Mark Bowman (Director General, International Finance, HM Treasury). The...

Member
Lord Young of Cookham (Conservative)
Department
Treasury
Type
Written statements
Date
23 May 2019
Reference
HLWS1545
House
House of Lords

A meeting of the Economic and Financial Affairs Council (ECOFIN) was held in Brussels on 17 May 2019. The UK was represented by Mark Bowman (Director General, International Finance, HM Treasury). The Council discussed the following:

Early Morning Session

The Eurogroup President briefed the Council on the outcomes of the 16 May...

Member
Lord Hammond of Runnymede (Conservative)
Department
Treasury
Type
Written statements
Date
23 May 2019
Reference
HCWS1583
House
House of Commons

My right honourable friend the Chancellor of the Exchequer (Philip Hammond) has today made the following Written Ministerial Statement.

A meeting of the Economic and Financial Affairs Council (ECOFIN) will be held in Brussels on 17 May 2019. The UK will be represented by Mark Bowman (Director General, International Finance, HM...

Member
Lord Young of Cookham (Conservative)
Department
Treasury
Type
Written statements
Date
16 May 2019
Reference
HLWS1524
House
House of Lords

A meeting of the Economic and Financial Affairs Council (ECOFIN) will be held in Brussels on 17 May 2019. The UK will be represented by Mark Bowman (Director General, International Finance, HM Treasury). The Council will discuss the following:

Early Morning Session

The Eurogroup President will brief the Council on the outcomes...

Member
Lord Hammond of Runnymede (Conservative)
Department
Treasury
Type
Written statements
Date
16 May 2019
Reference
HCWS1564
House
House of Commons

I will attend the General Affairs Council in Brussels on 19 March 2019 to represent the UK. Until we leave the European Union, we remain committed to fulfilling our rights and obligations as a full member.

The provisional agenda includes:

Multiannual Financial Framework 2021 - 2027

Ministers and the Commission will discuss progress...

Member
Lord Callanan (Conservative)
Department
Department for Exiting the European Union
Type
Written statements
Date
14 March 2019
Reference
HLWS1382
House
House of Lords

Lord Callanan, Minister of State for Exiting the European Union, has made the following statement:

I will attend the General Affairs Council in Brussels on 19 March 2019 to represent the UK. Until we leave the European Union, we remain committed to fulfilling our rights and obligations as a full member.

The...

Member
Robin Walker (Conservative)
Department
Department for Exiting the European Union
Type
Written statements
Date
14 March 2019
Reference
HCWS1414
House
House of Commons

A meeting of the Economic and Financial Affairs Council (ECOFIN) was held in Brussels on 22 January 2019. The UK was represented by Mark Bowman (Director General, International Finance, HM Treasury). The Council discussed the following:

Early Morning Session

The Eurogroup President briefed the Council on the outcomes of the 21 January...

Member
Lord Hammond of Runnymede (Conservative)
Department
Treasury
Type
Written statements
Date
31 January 2019
Reference
HCWS1292
House
House of Commons

My right honourable friend the Chancellor of the Exchequer (Philip Hammond) has today made the following Written Ministerial Statement.

A meeting of the Economic and Financial Affairs Council (ECOFIN) was held in Brussels on 22 January 2019. The UK was represented by Mark Bowman (Director General, International Finance, HM Treasury). The...

Member
Lord Bates (Conservative)
Department
Treasury
Type
Written statements
Date
31 January 2019
Reference
HLWS1259
House
House of Lords

A meeting of the Economic and Financial Affairs Council (ECOFIN) will be held in Brussels on 22 January 2019. The Council will discuss the following:

Early Morning Session

The Eurogroup President will brief the Council on the outcomes of the 21 January meeting of the Eurogroup, and the European Commission will provide...

Member
Lord Hammond of Runnymede (Conservative)
Department
Treasury
Type
Written statements
Date
22 January 2019
Reference
HCWS1262
House
House of Commons

My right honourable friend the Chancellor of the Exchequer (Philip Hammond) has today made the following Written Ministerial Statement.

A meeting of the Economic and Financial Affairs Council (ECOFIN) will be held in Brussels on 22 January 2019. The Council will discuss the following:

Early Morning Session

The Eurogroup President will brief the...

Member
Lord Bates (Conservative)
Department
Treasury
Type
Written statements
Date
22 January 2019
Reference
HLWS1227
House
House of Lords
Type
Select Committee reports; House of Commons papers; Parliamentary committees
Committee
European Scrutiny Committee
Date
16 January 2019
Reference
HC 301-l 2017-19
House
House of Commons

A meeting of the Economic and Financial Affairs Council (ECOFIN) was held in Brussels on 04 December 2018. The UK was represented by Mark Bowman (Director General, International Finance, HM Treasury). The Council discussed the following:

Early Morning Session

The Eurogroup President briefed the Council on the outcomes of the 03 December...

Member
Lord Hammond of Runnymede (Conservative)
Department
Treasury
Type
Written statements
Date
17 December 2018
Reference
HCWS1188
House
House of Commons