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The Bank of England should remain autonomous when it comes to interest rates

Please send your letters to letters@independent.co.uk

Monday 24 October 2016 14:08 BST
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Bank of England Governor Mark Carney
Bank of England Governor Mark Carney (Reuters)

Michael Gove has yet again been railing against his favourite bogeymen saying that “experts (such as the Bank of England’s governor Mark Carney) must curb their arrogance”.

Yet Gordon Brown gave the Bank independence because politicians made such a mess of monetary policy it damaged the economy – one of his few policies to stand the test of time.

Low interest rates and quantitative easing affect savers but if the banks hadn’t been bailed out and monetary policy used to stabilise the economy, people would have lost all their savings.

In fact, the reason for the extended period of low interest rates is the failure of our political class to bring the budget deficit under control and their suicidal gamble on Brexit.

Reverend Dr John Cameron
St Andrews

Bankers are gearing themselves up to leave

As a photographer, I have seen a marked increase in demand from bankers wanting to update their professional portrait prior to leaving Britain. The exodus started in late June.

Mark Grey
London, WC1

America are faced with a dire choice

There is evidence that there are many undecided American voters who actively dislike both candidates and are faced with a conundrum. Vote for one or the other or some other candidate who cannot win.

I suppose a British version would be to have to choose between Cherie Blair and Nigel Farage. Makes you think.

Chris Powell
Southsea

Brexit is not the will of the people

We are constantly being told that Brexit must be gone ahead with because it is the will of the people. This does not however seem to apply to Scotland where every region voted strongly to remain. For the UK as a whole, 28 per cent of the electorate did not vote.

An indeterminate number of leave voters have since had "buyer's remorse" when they realised that they had been comprehensively lied to. Then throw in the nearly half of the voters who voted to remain and you have the Brexiters in a distinct minority.

We were told Brexit would restore independence and freedom to our parliament, which was actually overwhelming in favour of remain, including most Tory MP's. Parliament can presumably be better informed than the average citizen. And yet, the Prime minister has now forbidden Parliament to debate or even discuss the terms of Brexit, surely the first time in our history for such a thing.

Some freedom.

Dennis James
Staffordshire

Scotland is no liberal haven

So first SNP MP Mhairi Black and now Scottish Greens leader, Patrick Harvie, for their own divisive purposes, try to paint England as a neo-racist, intolerant country, while spinning a narrative that Scotland is home only to caring, liberal individuals.

Of course, with a moment's thought, this is patently nonsense. Sadly there are racists in all parts of the UK. And, admittedly depending on your definition of racism, the numbers are small. Whatever Ms Black chooses to imply, this isn't 1930s Germany.

But let's remember 14 per cent of England's population is foreign born, compared to Scotland's 7 per cent with the Scottish figures below the EU average of nearly 9 per cent.

It would seem that the over seven million people in England born elsewhere consider it a more attractive place to live than Black and Harvie like to spin.

Martin Redfern
Edinburgh

We should look to the constitution

It is often said that the Prime Minister does not have a popular mandate. Our constitution is that Prime Ministers are appointed by the Queen and chosen because they can command a majority of the MPs in the House of Commons.

We have our say in choosing those MPs, who they support is up to them. The one thing they can do, and should do more often, is withdraw their support from a Prime Minister who is not acting in the best interest of the country.

Manifestos and referendums do not, and should not, tie their hands.

Jon Hawksley
London

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