Wednesday, March 25, 2009

Queen gives audience to Governor of the Bank of England

The audience given by the Queen to the Governor of the Bank of England is apparently without precedence and the first reference I found is in this editorial in The Times, linked here, as follows: Throughout her reign, the Queen had never held an audience with a governor of the Bank – till yesterday, when she met Mr King. The meeting might have passed as a constitutional idiosyncrasy, but Mr King also appeared to diverge from the policies of the Prime Minister. Appearing before the Treasury Select Committee of MPs, he was sceptical about the scope for further stimulus of the UK economy by fiscal means. Given the size of the deficits now and for the next two to three years, argued Mr King, there should be caution about adding to them. The Daily Telegraph, here, has a photograph from PA in its report and adds the following interesting detail: Immediately after the hearing at the House of Commons, Mr King was invited to Buckingham Palace for a private audience with the Queen. The meeting, at Her Majesty’s request, represented the first time she has met the incumbent Bank Governor. Is the Queen asking for an audience of more concern to the incompetent and jet-setting Prime Minister or the fact that the Governor of the cash printing bank first openly criticised the Prime Minister's policies which as the Times editorial points out are thought by some (including this blog) to carry 'the risk of an "Arma-geddon scenario”, where there are not enough lenders to meet planned levels of public borrowing'. The Daily Mail added this simple last line to its coverage of King's momentous warnings and carried the same picture of Mervyn King meeting the Queen: Later the Queen held an audience with the governor of the Bank of England for the first time in her reign.

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1 Comments:

Blogger rugfish said...

According to the Bank of England's charter (the Act), the Queen can revoke anything she pleases.

http://www.bankofengland.co.uk/about/legislation/legis.htm

9:33 AM  

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