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Who argues against central bank independence?

I have already noted government plans to autocratise the police and make them an instrument for party political gain this morning.

I suspect they have no need for such a plan in the case of the Bank of England: it seems likely that they voluntarily serve Tory party interests. It is hard to interpret this unnecessary comment in any other way, given that the timing would be perfect for a Tory pre-election boost.

I hate to be cynical, but sometimes you just have to be.

Spud does. Insists that the central bank should not be indepndent, should be under the control of the government of the day.

Then he accuses it of being so and complains.

8 thoughts on “Who argues against central bank independence?”

  1. ” it seems likely that they voluntarily serve Tory party interests. It is hard to interpret this unnecessary comment in any other way, given that the timing would be perfect for a Tory pre-election boost.”

    Yes, because the BoE worked so hard to help Liz Truss didn’t it? A democratically elected leader of a Conservative Government. Oh, no, my bad, it actively worked to engineer the fall of her and her government, how odd………….

  2. I have already noted government plans to autocratise the police and make them an instrument for party political gain this morning.
    Germans seem to be doing that with their security services:
    https://www.telegraph.co.uk/world-news/2023/11/08/german-party-afd-outright-ban-antisemitism-islamophobia-spy/
    So they’re now using supposed anti-semitism to beat them over their head for Islamaphobia.
    In the summer, Saskia Esken, the leader of Olaf Scholz’s Social Democrats, said that the party would have to be banned in the event that they are classified as extremist at the national level.

    The AfD is currently polling in second nationally, on about 22 per cent, behind the centre-Right Christian Democrats, who are on approximately 30 per cent.
    Mr Scholz’s Social Democrats trail in third on about 17 per cent.

  3. Craven anti semite condemns Government for not licensing hatred of Jews openly in The streets? Quelle surprise. As the old saying goes – ‘Evil never sleeps’ – Murphy’s output proves that for sure..

  4. BiS.

    Freedom is ok provided you freely do what I want.

    PS. ‘Analysts say it is tapping into voters’ fears about recession, migration and the green transition.’ Well, I can’t say I’m worried about a recession. But I certainly agree with them about migration and the Greens. Still I’m sure the good guys here would love to ban me too.

  5. @Boganboy
    “recession, migration and the green transition.” are all faces of the same thing. The “green transition”” is reducing real productivity because the input of goods & services to create greenery creates less utility as an end product. Likewise immigration introduces more consumers into the market without the corresponding production of goods & services to satisfy them. Again a reduction in real productivity.
    If it carries on this way it’s not recession you should be worried about but something far worse.

  6. Martin Near The M25

    “they voluntarily serve Tory party interests”

    By beating up anybody who says anything vaguely right wing. Hang on, he’s right there.

    Somehow I don’t think this weekends planned little outing is going to be policed in the same way the lockdown protests were. Looks like a no win situation for the Met. Oh dear, how sad etc.

  7. “Somehow I don’t think this weekends planned little outing is going to be policed in the same way the lockdown protests were. ”

    Or indeed those vicious women protesting about policemen raping and murdering women………

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