BoE chief 'should look at position after arrogant EU scare attempt'

A Eurosceptic Conservative MP in England has called on the governor of the Bank of England to consider his position, accusing Mark Carney of "a deliberate attempt to scare people into thinking we should remain in the EU".

BoE chief 'should look at position after arrogant EU scare attempt'

A Eurosceptic Conservative MP in England has called on the governor of the Bank of England to consider his position, accusing Mark Carney of "a deliberate attempt to scare people into thinking we should remain in the EU".

Peter Bone accused Mr Carney of voicing his personal opinions on the risks of Brexit, and said it appeared that his evidence to the House of Commons Treasury Committee was "orchestrated" by David Cameron or George Osborne.

Giving evidence to the committee on Tuesday, Mr Carney warned that withdrawal from the EU was the "biggest domestic risk" Britain faces, and said major international banks could quit the City of London if the UK's access to European markets was reduced as a result.

But he insisted that the Bank was not making any recommendation on which way to vote in the June 23 referendum, and flatly denied that he had been pushed by Downing Street into making a grim assessment of the potential fallout.

Mr Carney's comments drew rebukes from Eurosceptic committee members, with Tory backbencher Jacob Rees-Mogg accusing him of "speculative" comments which were "beneath the dignity" of his office.

Mr Bone, a Tory spokesman for the Grassroots Out group, described Mr Carney's performance as "extraordinary", telling the BBC Radio 4 Today programme: "He was speculating, and speculating in a way that I say is wholly unbelievable. It seemed to be part of the Project Fear. I guess it was orchestrated by conversations either with the Chancellor or the Prime Minister.

"If the governor had speculated that way that we should come out of the EU, do you think Downing Street wouldn't be clamouring for his head at the moment?"

The director-general of the British Chambers of Commerce, John Longworth, had been suspended and then resigned his post after expressing his own personal views on the merits of leaving the EU, said Mr Bone.

Mr Carney's evidence "was not an approach based on facts, it was based on his personal view", said the Tory MP, adding: "The last person who made a personal view got fired from his job. I just wonder if he should be looking at his position today."

Mr Bone said he "could not imagine" Mr Carney's predecessor at Threadneedle Street, Lord (Mervyn) King, giving evidence in the same way, and accused the current governor of being "arrogant" in his approach to MPs' questioning.

"It seemed to me that it was a deliberate attempt to scare people into thinking we should remain in the EU, which of course is actually the only card that the people who want to remain in the EU are playing, because there are no positive reasons for staying in the EU," said the Wellingborough MP.

"Governors of the Bank of England should say the facts. Mervyn King, who's no longer at the Bank of England, speculates that the biggest risk is being connected with the euro. So he takes a completely different view to the current governor.

"I might be wrong, but it seemed he was somewhat arrogant in the way he put this down. I don't think he liked the fact that MPs were asking him tough questions. It was not a performance that he should be proud of, and it's certainly not what we should have seen from the Governor of the Bank of England."

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