This article publishes the annex to a letter sent to the Treasury Select Committee from David Aikman on the topic of FPC accountability and specifically how to quantify its financial stability objective. [...]
About David Aikman (Edit profile)David Aikman joined King’s Business School in April 2020 as Professor of Finance and Director of the Qatar Centre for Global Banking and Finance. He spent 17 years working as an economist at the Bank of England – most recently in the Technical Head of Division role in the Financial Stability Strategy and Risk Directorate. He led the Bank’s work on various macroprudential issues.
Forensic scrutiny of the decisions taken by policymakers and the analysis that underpins them is an essential component of a healthy public policy regime, particularly one where power has been delegated from [...]
In this article, we take stock of the cumulative effect of the various changes that have been made over time to the Financial Policy Committee (FPC)’s mandate via the Chancellor of the [...]