Occasional reflections on Life, the World, and Mathematics

Complete impartiality


Conservative advocates of Brexit are angry that experts whose job it is to protect the stability of the British economy are proving so stubbornly… conservative. Their narrow-minded equations only respond to the boringly conventional changes in tariffs, consumer confidence, investment flows, and the like, and seem to have no place for the growth-multiplying effect of exuberant national sense of purpose and untrammeled Britishness. The most recent offender is Bank of England governor Mark Carney (himself dangerously colonial), last seen protecting Britishness by warning the Scots of the financial implications of their own leap into national autonomy. He warned that a vote to leave the EU could devalue the pound and initiate a recession.

The Conservative Brexit response:

Andrea Leadsom, a Conservative energy minister, accused the Bank’s governor, Mark Carney, of disrupting the markets and jeopardising his independence… “It is institutional ganging up on the poor British voter who is trying to get a decent primary school place and doctor’s appointment.”

The Bank of England governor had “come out with some nonsense that is totally unjustifiable, totally speculative stuff” and predicted that he would be wishing that he had not done it, she said…

Jacob Rees-Mogg, a backbench Tory MP, said Carney should be fired and had become highly politicised in what was meant to be an impartial role.

Yes, we need to protect the impartiality of the Bank of England by firing its governor when his advice supports one side in a political argument.

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