April 22, 2018 / 9:27 AM / 3 months ago

UK opposition likely to seek broader BoE mandate if in power

LONDON, April 22 (Reuters) - Britain’s opposition Labour Party would likely broaden the Bank of England’s mandate to include factors like employment but would not seek to remove the central bank’s independence, Labour’s finance policy chief John McDonnell said on Sunday.

“I’m quite attracted by the wider mandate that there is in America but we would retain Bank of England independence,” McDonnell told ITV’s Peston on Sunday show.

Asked if he thought such a shift was very likely, he said “Yes, it is.”

Britain is not due to hold another national election until 2022.

Reporting by William James Editing by Edmund Blair

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