This follows the recent review of Sir Alan Budd and -- shall we point out? -- our modest suggestion. So from now on the Governor along with three officers of the bank he has picked plus five people selected by the Minister of Finance -- after, and that's important, consultation with the Governor -- will constitute the MPC. The five people chosen by the Minister must have recognised and relevant experience.
It is interesting to note that three of the five members nominated by XLD are foreigners and that includes a woman.
