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.
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.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.
House of Commons
John McDonnellLabour (Co-op)
26 April 2013
May contain errors — check source documents for definitive information.
This Bill would give the Treasury Select Committee (and any successor committee) a legal right to consent to the appointment and dismissal of the Governor of the Bank of England. In other words, the person who runs the Bank would be subject to parliamentary approval by a formal veto. The move is designed to strengthen accountability in the Bank’s governance, especially as its powers may be expanded.
The bill is currently at the 2nd Reading in the House of Commons. If it progresses, it would move to Committee Stage and, subject to passage, onward to the Lords.
Generated 21 February 2026
20 Jun 2012
No recorded votes for this bill yet.
