John Redwood’s contribution at Treasury questions, 26 June 2012

Mr John Redwood (Wokingham) (Con): When will the House be given the details of the three very large schemes for monetary easing announced at the Mansion House, and when will we be given a chance to debate them?

Mr Osborne: It is standard practice for the Bank to announce its own monetary and liquidity schemes. That is what it did with the liquidity proposals, and the Governor of the Bank was answering questions about them this morning before the Treasury Committee in this House. When we have further details about the funding for lending scheme, we will of course come to the House and make that announcement, but I hope that my right hon. Friend will allow me to continue to make Mansion House speeches as Chancellors have before.

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  1. Paul Danon
    Posted June 27, 2012 at 4:16 pm | Permalink

    A wee bit facetious of the chancellor. I don’t expect that Mr Redwood is against speeches per se. What’s significant are these major policy-decisions which are being taken without reference to parliament, which is sovereign. Can Mr Speaker hold a minister and/or the governor in contempt?

  2. AJAX
    Posted June 28, 2012 at 12:20 pm | Permalink

    It is amazing how quiescent England’s political/media complex is whilst H.M. Treasury engages in Bernanke’s immense voodoo economics experiment, there are v. few voices raised questioning the risks inherent, despite what now appears to be failure looming with ominous financial consequence.

  • About John Redwood

    John Redwood won a free place at Kent College, Canterbury, and graduated from Magdalen College Oxford. He is a Distinguished fellow of All Souls, Oxford. A businessman by background, he has set up an investment management business, was both executive and non executive chairman of a quoted industrial PLC, and chaired a manufacturing company with factories in Birmingham, Chicago, India and China. He is the MP for Wokingham, first elected in 1987.

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