Select Committee on Treasury Minutes of Evidence

Examination of Witnesses (Questions 240-241)


24 APRIL 2007

  Q240  Chairman: I am thinking, for example, how about each of you as a member writing a letter to this Committee or a report every year giving your point of view?

  Dr Sentance: I would have no objection to that if the Committee would like to have that. It is difficult to judge because every six months on the Committee we have the opportunity to come and talk to you.

  Q241  Chairman: It would help if we had your views laid down so that we could look at them.

  Dr Sentance: If you would find that helpful then I would have no objection to that at all.

  Professor Besley: I do not want to pour cold water on the idea, but I have one reservation and that is the timing of the report to you would be rather arbitrary in terms of what is going on in policy and therefore may focus too much attention on a particular date in the policy process. One of the things we have achieved by having an even pattern of communication with Inflation Reports at regular intervals and minutes at regular intervals is that we have a rather even pattern of communication. As long as some way could be established to make sure that undue significance was not placed on a particular date which would be somewhat arbitrary in the policy cycle, I would not oppose it.

  Chairman: I think through informal channels we could achieve that and you would be quite happy with that. Thank you for your time. It has been very helpful to us.

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