SNP Launches Scathing Attack on Bank of England Governor

The Scottish National Party (SNP) has strongly condemned Bank of England Governor Eddie George for his comments on economic policy, accusing him of fueling the north-south divide in Britain. The attack comes after George stated that the country's economic welfare cannot be risked to save particular sectors or regions. However, SNP deputy leader John Swinney argues that George's views are insensitive and ill-judged, citing the geographical bias in the Bank of England's Monetary Policy Committee towards the south-east of England. Swinney also emphasized the significant north-south divide in the UK, particularly in Scotland, which he believes is exacerbated by the Bank of England and the Labour government's policies.

Key Takeaways:

• The SNP accused Bank of England Governor Eddie George of fueling the north-south divide in Britain through his comments on economic policy.
• George stated that the country's economic welfare cannot be risked to save particular sectors or regions, a view that SNP deputy leader John Swinney described as insensitive and ill-judged.
• Swinney argued that the Bank of England's Monetary Policy Committee is biased towards the south-east of England, and that UK economic policy is a regional policy for London and the south east.
• Researchers at the Centre for Economics and Business Research predicted British economic growth will hit 2.6 per cent in 2000 and 3 per cent in the likely election year of 2001.
• The SNP emphasized the significant north-south divide in the UK, particularly in Scotland, which they believe is exacerbated by the Bank of England and the Labour government's policies.

Statistics:

• 2.6 per cent: predicted British economic growth for 2000 (Centre for Economics and Business Research)
• 3 per cent: predicted British economic growth for the likely election year of 2001 (Centre for Economics and Business Research)

Sources:

• "SNP Launches Scathing Attack on Bank of England Governor" (no date specified)
• John Swinney, Deputy Leader, Scottish National Party
• Eddie George, Governor, Bank of England
• Centre for Economics and Business Research