Labour Appoints Union Leader to Bank of England Board Amid Tax Controversy

The leader of Britain's trade union movement has been appointed to the Bank of England's board just hours after calling for a new tax on banks' 'mega profits'. Paul Nowak, General Secretary of the Trades Union Congress, will earn £20,000 per year as a non-executive director of the Bank's Court of Directors. His four-year term requires only three days of work per month.

Nowak's appointment was announced by Labour Chancellor John Healey on the same day that he reiterated his call for banks to pay their fair share of tax. The move has been criticized as cronyism, with opposition leaders accusing the government of rewarding trade union donations in exchange for jobs.

The TUC represents over 5 million working people and has donated £248 million to Labour since 2001. Nowak's predecessor, Frances O'Grady, also held a seat on the Bank's board under a Conservative government. A TUC spokesman defended the appointment, stating that Nowak would donate his fees to charity.

The move has sparked controversy, with opposition leaders accusing the government of hypocrisy and cronyism. Shadow Chancellor Andrew Griffith said, 'The last thing our country needs is a trade union leader helping to run the Bank of England.'