Should a few strategic employees in our country have more stringent qualifying criteria than others, before being given critical/strategic/top jobs?
Should a few governing roles only be open to British nationals who were born here?
Maybe we should ask the question.
The presidency of the United States clearly has such a rule as was witnessed by all the hue and cry over the Obama’s birth certificate – otherwise known as ‘the birther conspiracy.’
A few years ago, France discussed at great length if the holiday company ‘Club Med’, was a ‘strategic industry’ and if so, should it be sold to a Chinese company.
If Club Med is a national treasure, clearly being Governor of the Bank of England is of far more importance. Simple utterances can make or destroy economies because above all, economies and investments rely on confidence.
But in Mark Carney, we have a Canadian national who seems to have been handpicked by Brussels loving George Osborne, only, because he followed the same globalist, liberal, anti-Brexit views of his then boss. William Keegan writing in the Guardian at the time of the appointment said, ‘George Osborne got Mark Carney – at the cost of his principles.’
The first principle that seems to have gone is financial prudence in compensation packages. Carney ended up getting paid over 50% more than his predecessor, Sir Mervyn King, who earned £305,000 and no pension contribution.
Mr Carney is headlined as getting a total package of £874,000 with all his allowances but other estimates suggest he will earn a total of £7m for his time in office.
Let’s just remind ourselves again – Theresa May earns £150,402 as Prime Minister and the median salary in this country is just over £22,000. (April 2014 ASHE report gives median gross annual earnings of £22,044 for all employees).
But the damage to the country of a large salary is nothing compared to the damage caused by politically motivated speeches. How coincidental that just a few days after Mr Carney renewed his contract, he first comes out with blatant project fear nonsense ‘House prices to crash 35% in the event of a no deal.’
And then even more fortunately, a day later, says that Britain could get a £16 billion-pound boost from May’s chequers deal.
Talk about political meddling.
How does he know? Where do any of these numbers come from? Has Carney got a good record of predicting? The answer, of course, is he does not know, and he has a terrible record of predicting. It would appear he is just a puppet for his political paymasters. As the Spectator says here, ‘It is time Mark Carney stopped fighting the Brexit referendum.’
‘Take, for example, his post-referendum forecast that exports would fall by 0.5 percent in 2017 – a baffling assumption given that the (welcome) fall in the pound was always likely to boost exports. In fact, exports went on to rise by 7.2 percent. Carney’s forecasters also envisaged a 2 percent drop in business investment. The opposite happened: it rose by more than 2 percent. Foreign direct investment also hit a record high.’
As we know from the 2008 crash, The Bank of England, as with other economists predicted absolutely nothing. The ‘Crash was Economists Michael Fish moment’ is a nice way to put it.
All that is happening is people are getting more and more angry and no one now believes a word that comes out of Mark Carney’s mouth. This is all terribly sad. Compare this with the tremendous respect that former Bank of England governors such as Eddy George received.
As Rodney Atkinson (who is coincidentally Rowan Atkinson’s brother) writes here, ‘Dr Carney’s blatantly political (and probably illegal under referendum law) interventions in the Brexit debate contradicted the traditional role of the Bank of calming and supporting financial markets.’
The irony, of course, is that if the pound goes down substantially, quite the opposite can happen to house prices – they can soar – and this happens because salaries and prices go up in local currency terms. It might surprise people, but the Venezuelan stock market has gone up vertically. It went up 516% between January 2015 and November 2016.
Mark Carney of all people should understand this.
But perhaps Mark is too busy spending some of that million pounds a year, cavorting at his sister-in-law’s estate of Cornbury which is located, just near Chipping Norton.
Cornbury holds ‘The Wilderness’ music festival which frequented regularly by Carney and Cameron.
It’s the sort of festival where anti-Brexit, eco-warrior, millionaires hang out, including his wife who has run a company that sells, amongst other things, products made of cow dung.
After you have paid £146 for the ticket, you can frequent Cafe Murano where a beef Cutlet costs £58, presumably without the vegetables.
Sadly, not being in such a set, I had to look up what Amarena cherries were, but I am sure Mr Carney will know.
NONE of these people have any idea what is going on across their beloved EU in the migrant ghettos or how open borders are destroying communities from Coventry to Chemnitz. But they will eventually. And then it will all be too late.