§ Mr. Matthew Taylor
To ask the Chancellor of the Exchequer what criteria he uses to decide whether the Monetary Policy Committee members have knowledge and experience which is likely to be relevant to the Committee's functions; and on what grounds he decides whether to renew their membership. 99W
§ Miss Melanie Johnson
[holding answer 13 July 2000]: All members appointed to the MCP have distinguished professional track records in fields relevant to monetary policy. In deciding whether or not to reappoint external members the Chancellor takes into account the need to strike a balance between continuity and ensuring that there are opportunities to bring new ideas and perspectives into the MCP at regular intervals.