Trades Union Congress boss Paul Nowak has been appointed by John Healey as a non-executive director on the Bank of England’s Court of Directors. Which functions as the bank’s board…
Nowak will contribute to the BoE’s “strategy, governance, budget and risk framework, and for ensuring the effective discharge of the Bank’s statutory functions.” The government said:
“Paul Nowak is General Secretary of the Trades Union Congress. The TUC represents 47 unions and 5.3 million workers in the UK. Paul has represented the TUC internationally at the International Labour Organisation, OECD and G20, and holds non-executive experience at Unity Trust Bank.”
Frances O’Grady was the last trade union baron to be in this position. The government’s press release says Nowak has “confirmed that they have not engaged in any party political activity in the last five years.” Roughly £30 million has been donated by trade unions to Labour centrally since 2021 and Nowak has spent the last four days loudly campaigning against Reform’s donations…
Andy Haldane, Burnham’s recent adviser on the economy who has not taken up a No10 job, told Andrew Marr on LBC:
“The market now suspects that this is a traditional tax-and-spend socialist government with better TikTok videos…
imposing windfall taxes on oil & gas or on banks or upping capital gains tax would […] repeat the mistake that Rachel made […] The Achilles heel, the fiscal Achilles heel of this government thus far has been its unwillingness and/or inability to cut public spending.”