Douglas Carswell's Blog

What do the Bank of England emails tell us?

Email exchanges between Deputy Governor of the Bank of England, Paul Tucker, and senior Downing Street official, Jeremy Heywood, have been released.

What do they tell us?

One thing that these emails help bring home is the degree to which we are really governed by an unelected, unaccountable mandarinate.  At a key stage in the credit crunch, key calls were being made not by the Prime Minister, or members of the Cabinet, or anyone who had taken the trouble to get elected to anything.  But by the permanent officials in Whitehall and the central bank.

The second thing that I find striking is that these officials are still in place.  Gordon Brown and Alistair Darling might have moved out of Downing Stree to make way for David Cameron and George Osborne.  But guess what?  The guys that helped get us into this mess are still there behind the scenes in charge.

Steady as she sinks, eh ....

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