City traders are speculating about how long Mark Carney will remain as Bank of England governor, after Theresa May attacked the BoE’s loose monetary policy stance yesterday.
According to The Guardian, Carney is expected to decide by the end of the year whether to just do five years at the Bank (the original plan), or sign up for an extra three year’s service. He arrived in July 2013.
May’s criticism could, perhaps, encourage Carney to exit gracefully in 2018 after all. Or he might decide that London remains the place to be, as the Brexit story plays out. May surprised the City by telling the Conservative Party conference that ultra-low interest rates and quantitative easing had disproportionately helped the rich.
Inheritance Tax
Analysis of HM Revenue & Customs’ latest UK Personal Wealth Statistics by financial services company NFU Mutual shows a 27 per cent rise in the number of millionaires between 2008-2010 and 2011-2013 to just over 409,000.
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