TUC Boss Appointed to Bank of England Board Amid Calls for Higher Taxes

The Bank of England's board has been strengthened by the appointment of Paul Nowak, general secretary of the Trades Union Congress (TUC), as a non-executive director.

Nowak will take on a four-year term alongside David Craig, founder of Refinitiv, and Hanneke Smits, a top City investment manager.

The appointment comes after Nowak's calls for higher taxes on banks' profits to help bolster cost-of-living support for households.

Nowak has agreed to donate all his fees from the position to charity, specifically the Bank Workers Charity and Everton in the Community.