TUC Boss Appointed to Bank of England Board Amid Calls for Higher Taxes on Banks
The Bank of England has announced new appointments to its board, including Paul Nowak, general secretary of the Trades Union Congress (TUC).
Mr. Nowak, who was a former call centre worker and has been a trade unionist throughout his career, will take on a non-executive director position for a four-year term.
He will be stepping into Baroness Frances O'Grady's shoes, as she leaves her role on the Bank's board. The TUC boss was recently leading calls to increase taxes on Britain's banks, arguing that the money raised could help bolster cost-of-living support for households.
The Court of the Bank of England is responsible for overseeing the central bank's strategy, governance, budget and risk framework. It is separate to the team that sets interest rates.