A welcome appointment
THE appointment of Mark Carney, 47, as the new Governor of the Bank of England has been greeted with general approval by politicians of all parties and by the City.
He is a Canadian which makes him a surprise choice but Canada’s own economic history since the Nineties, when it was plunged into recession, offers an encouraging model.
Spending was slashed and corporate taxes were halved resulting in falling unemployment and solid growth.
It is to be hoped that Mr Carney instils this positive, can-do mood.
Confidence is at the heart of any economic recovery.