Liam Halligan ‘criticises’ former Governor of the Bank of England
The former Governor of the Bank of England has been slammed for wading into “party politics” with an “undermining” speech at the Labour party conference.
Mark Carney was beamed onto the big screen in front of delegates at the party’s conference in Liverpool this week as he gave an endorsement to Shadow Chancellor Rachel Reeves.
Canadian Mr Carney earned a basic salary of around £480,000 plus significant benefits when he led the Bank of England at Threadneedle Street from 2012 to 2020.
The 58-year-old has been a prominent critic of Brexit claiming the UK’s withdrawal from the European Union has been a driving force behind inflation.
At the Labour conference, Mr Carney made a video address to the party faithful describing Ms Reeves as a “serious economist”.
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Ms Reeves worked for the Bank of England between 2000 and 2006.
The move to seemingly endorse a political party has been slammed by GB News Economics and Business Editor Liam Halligan who, despite knowing Mr Carney from their university days, said he personally “would not have done” such a speech.
Mr Halligan told GB News: “Putting my cards on the table, I was at university with Mark Carney, I’ve known the guy for a long time”, he said.
“Having said that, I don’t think it’s right that somebody who was well paid to be an independent governor of the Bank of England, one of our most senior civil servants in the UK, recruited from Canada by Tory Chancellor George Osborne.
“I think he undermines the role of an independent Bank of England governor when he clearly enters into party politics.
“He undermines his own reputation and all previous and future governors.
“It is absolutely vital for the governor to be seen above party politics and in my view, Mark Carney has clearly entered the realm of party politics.
“I wouldn’t have done that.”
During his video address at the conference Mr Carney spoke warmly of the Shadow Chanceller saying: “She began her career at the Bank of England, so she understands the big picture.
“But, crucially she understands the economics of work, of place and family. And, look, it is beyond time we put her energy and ideas into action.”
A spokesman for Ms Reeves told The Sun Mr Carney has no formal advisory role in the Labour Party and that his intervention was not “politicising the Bank of England” but that Ms Reeves was “proud” to have his backing.
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