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Bank of England (Inflation Targets) Bill

A Bill to make provision for penalties against the Court of Directors of the Bank of England for failure to meet inflation targets.

Originating House

House of Commons

Sponsor

Sir Christopher ChopeConservative

Parliament last updated

30 April 2026

In Plain English

AI-generated

May contain errors — check source documents for definitive information.

This bill would create penalties for the Bank of England’s Court of Directors if the inflation targets are not met. It seeks to increase accountability of the Bank’s leadership over inflation performance. The bill is currently at the second reading in the House of Commons.

Key Points

  • Proposes penalties against the Court of Directors for failing to meet inflation targets
  • Introduced by Sir Christopher Chope (Conservative)
  • Originating in the Commons; currently at 2nd reading in the Commons
  • Relates to economy, crime & justice, and technology policy areas
  • Official documents: 1 Bill

Progress

The bill has completed its first reading in the Commons (21 October 2024) and is now at the second reading stage. If it progresses, it would move on to further readings and committee stages.

Who is affected?

Members of the Bank of England’s Court of DirectorsThe Bank of England as an institution (and its staff indirectly)UK consumers and households affected by inflation outcomes

Generated 21 February 2026

Bill Stages

1st readingCommons

21 Oct 2024

2nd readingCommons
Committee stageCommons
Report stageCommons
3rd readingCommons
1st readingLords
2nd readingLords
Committee stageLords
Report stageLords
3rd readingLords
Royal Assent

Updates & Documents

News (1)

Bank of England (Inflation Targets) Bill

24 Oct 2024

The 2024-2026 session of Parliament has come to an end so the House of Commons is now prorogued until the next session begins on 13 May 2026. Prorogation is the formal end to the parliamentary year.

This Bill will therefore make no further progress.

Documents (1)

Bill 079 2024-25 (as introduced)
BillCommons
10 Jul 2025

Parliamentary Votes (0)

No recorded votes for this bill yet.