Apologies for the long cut and paste, but it's worth it!
The Tories are keen to present Burnham’s administration as what Andy Haldane would call just another “traditional tax and spend socialist government” and yesterday Kemi Badenoch leapt on what she thought was new evidence to confirm this theory. She posted this on social media.
Only one party has ever rescued the country from trade union control. We’re ready to do so again.
If you weren’t sure what kind of Labour government we have, or want to know what’s in store for you and your family finances, the news below is a big clue and it’s not good news 👇
She was responding to a tweet from the Sun saying Paul Nowak has been made a director at the Bank of England.
It was true; he has. There are up to 14 directors on the Bank’s court of directors and Nowak, general secretary of the TUC, has been appointed as one of its non-executive directors. The court is not the body that sets interest rates; it just oversees the Bank’s administration.
But there is nothing very new or surprising (or socialist) about this. Nowak is replacing Frances O’Grady, who was also TUC general secretary. She was made a non-executive director at the Bank under a Tory government. As was her TUC predecessor.
In fact, this has been happening for decades. Rupert Harrison, who was chief of staff to George Osborne when he was chancellor, took to X yesterday to suggest to his Tory colleagues that they keep things in perspective.
Got no take on this particular candidate but worth noting that it’s been a tradition to have a trade union representative on the Court of the Bank for decades. Since the War I think.