MPC `needs industry input'

MPC `needs industry input'

THE GOVERNMENT came under pressure yesterday to appoint a representative of the manufacturing industry to the Monetary Policy Committee of the Bank of England.

Leaders of the engineering industry argued that not one of the members of the MPC, which sets interest rates, had experience of manufacturing. The Engineering Employers' Federation is thought to be generally sympathetic, but a source pointed out that all of the current members of the committee were independent of any section of industry.