Commenting on the appointment of current Bank of Canada Governor Mark Carney as the future Governor of the Bank of England, Dr Adam Marshall, Director of Policy and External Affairs at the British Chambers of Commerce, said:

“The new Governor of the Bank of England will take office at a crucial time for both the UK and global economies. As the Bank takes on greater supervision of Britain’s financial services sector, and in particular our major lending banks, we hope that the new Governor will focus relentlessly on supporting business growth across the UK – not just in the Square Mile. 

“In particular, the new Governor must work closely with the Treasury to find ways to boost the supply of credit to new and growing businesses. We hope that Mark Carney will also play an instrumental role in bringing a British Business Bank to life – something that Canadian SMEs have benefited from for many decades.”