Britain’s Labour government was slammed for “cronyism”, and their appointee of being “misleading”, after placing another Trade Union boss on the advisory board of the Bank of England.
\n\nGeneral Secretary of the Trade Union Congress, Britain’s largest trade union organisation, Paul Nowak has been appointed to the Court of Directors of the Bank of England, taking the vacant chair last held by former TUC General Secretary Frances O’Grady. The Court does not set the Bank of England rate, but rather is “responsible for overseeing the Bank’s strategy, governance, budget and risk framework, and for ensuring the effective discharge of the Bank’s statutory functions”.
\n\nDespite the relatively straightforward swap of one powerful leftist for another at the Bank of England, the Bank’s press release on the appointments and the process raised instant concerns about the theoretically apolitical role. The Bank said: “The appointment followed a fair and open competition in line with the Governance Code on Public Appointments… [Nowak] confirmed that they have not engaged in any party political activity in the last five years.”
\n\nReform UK spokesman Robert Jenrick suggested Nowak must have been “misleading” the bank during the selection process, given his frequent appearance in the headlines for his…
Original source: https://www.breitbart.com/economy/
