38-558: Barnsley East was a constituency in South Yorkshire , from 2010 until 2024. This constituency covered parts of the town of Barnsley . Further to the completion of the 2023 Periodic Review of Westminster constituencies , the seat was replaced (including boundary changes) by Barnsley North , first contested at the 2024 general election . The seat covers the south-east suburbs of Barnsley and former coal mining areas such as Hoyland, Darfield and Wombwell. Its residents are poorer than
76-505: A Thursday, Monday and Wednesday. Prior to the implementation of the reforms recommended by Kevin Warsh , meetings were generally held monthly on the Wednesday and Thursday following the first Monday of the month, although this was sometimes deviated from. In 2010, for example, the meeting was postponed from the 5/6 to the 7/10 May in order to avoid conflicting with the general election scheduled for
114-562: A further round of quantitative easing, valued at £60 billion, bringing the total to £435 billion. In December 2014, the Bank adopted the recommendations of a report prepared by Kevin Warsh aimed at improving the transparency of the committee's decision making processes. Following a reshuffle in April 2014, the committee currently comprises: Each member has one vote of equal weight, for which they can be held publicly accountable. The Governor chairs
152-500: A non-negligible part of the APF portfolio, as of May 2015 the entirety of the APF was held as gilts. On 7 August 2013, Governor Mark Carney issued the committee's first forward guidance as a third tool for controlling future inflation. Criticism of the MPC has centred on its predominant focus on inflation to the detriment of growth and employment, although that criticism may have been mitigated by
190-638: A reduction of 13 seats. Primary legislation provides for the independence of the boundary commissions for each of the four parts of the UK, the number of seats for each of the countries, permissible factors to use in departing from any old boundaries, and a strong duty to consult. The Fifth Review was governed by the Parliamentary Constituencies Act of 1986 . Under the Parliamentary Voting System and Constituencies Act 2011 , as amended by
228-687: A sixth of Scotland, to the densely-populated London constituency of Islington North . As of the 2024 election there are 543 constituencies in England, 32 in Wales, 57 in Scotland and 18 in Northern Ireland. The "Region" of the table refers to the NUTS 1 statistical region of England , which coincides with the former European Parliament constituency in which the constituency was included until 31 January 2020. Following
266-503: Is a committee of the Bank of England , which meets for three and a half days, eight times a year, to decide the official interest rate in the United Kingdom (the Bank of England Base Rate ). It is also responsible for directing other aspects of the government's monetary policy framework, such as quantitative easing and forward guidance . The Committee comprises nine members, including
304-560: Is no smaller than 69,724 and no larger than 77,062. The exceptions to this rule are five 'protected' constituencies for island areas: Orkney and Shetland , Na h-Eileanan an Iar , Ynys Mon , and two constituencies on the Isle of Wight . These consequently have smaller electorates than the lower limit for other constituencies. As the number of electors in each constituency is similar, the constituencies themselves vary considerably in area, ranging in 2019 from Ross, Skye and Lochaber , which occupies
342-528: The 2010 general election after proposals made by the boundary commissions for England, Wales, and Northern Ireland (the Fifth Periodic Review of Westminster constituencies ) were adopted through statutory instruments . Constituencies in Scotland remained unchanged, as the Boundary Commission for Scotland had completed a review just before the 2005 general election , which had resulted in
380-616: The Governor of the Bank of England , and is responsible primarily for keeping the Consumer Price Index (CPI) measure of inflation close to a target set by the government, currently 2% per year (as of 2019). Its secondary aim – to support growth and employment – was reinforced in March 2013. Announced on 6 May 1997, only five days after that year's General Election , and officially given operational responsibility for setting interest rates in
418-633: The Parliamentary Constituencies Act 2020 , the number of MPs is now fixed at 650. The Sainte-Laguë formula method is used to form groups of seats split between the four parts of the United Kingdom and the English regions (as defined by the NUTS 1 statistical regions of England ). The table below gives the number of eligible voters broken down by constituent country, including the average constituency size in each country. As of 2023, every recommended constituency must have an electorate as at 2 March 2020 that
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#1732869238864456-435: The financial crisis of 2007–08 ended this period of stability, and, on 16 April 2007, the governor (at that time Mervyn King ), was obliged to write the first MPC open letter to the chancellor (Gordon Brown), explaining why the inflation had deviated from the target of 2% per year by more than one percentage point (3.1%). By February 2013, he had had to write 14 such letters to chancellors. Between October 2008 and March 2009
494-961: The 2010 general election, the Boundary Commission for England divided the existing Barnsley East and Mexborough seat to split off Barnsley East from Mexborough, to create the new Barnsley East constituency. Following the death of Terry Patchett on 11 October 1996, a by-election was held on 12 December 1996. The replacement Labour candidate Jeff Ennis held the seat for the party despite a low voter turnout. List of United Kingdom Parliament constituencies King Charles III [REDACTED] William, Prince of Wales [REDACTED] Charles III ( King-in-Council ) [REDACTED] Starmer ministry ( L ) Keir Starmer ( L ) Angela Rayner ( L ) ( King-in-Parliament ) [REDACTED] Charles III [REDACTED] [REDACTED] [REDACTED] The Lord Reed The Lord Hodge Andrew Bailey Monetary Policy Committee The Parliament of
532-513: The 6th. The May 2015 meeting was similarly delayed. On the first day of the three, the Committee studies data relating to the UK economy , as well as the worldwide economy, presented by the Bank's economists and regional representatives, and topics for discussion are identified and addressed. The second day consists of a main policy discussion during which MPC members explain their personal views and debate
570-510: The Bank of England Act 1998, the committee was designed to be independent of political interference and thus to add credibility to interest rate decisions. Each member has one vote, for which they are held to account: full minutes of each meeting are published alongside the committee's monetary policy decisions, and members are regularly called before the Treasury Select Committee , as well as speaking to wider audiences at events during
608-498: The MPC can be called upon by Parliament to answer questions regarding their decisions, via parliamentary committee meetings, often those of the Treasury Committee. MPC members also speak to audiences throughout the country, with the same aim. Their views and expectations for inflation are also republished in the Bank's quarterly inflation report. As of September 2024, the current Committee comprises: Other, former members of
646-481: The March 2013 revisions to the committee's remit. There have also been complaints about the reluctance of lenders to pass on rate changes, and about the extent to which the introduction and management of QE have risked politicising the committee. Traditionally, the Treasury set interest rates. After reforms in 1992, officials held regular meetings and published minutes, but were not independent of government. The result
684-438: The UK average. The seat was created as Barnsley East in 1983 and later abolished in 1997 to create Barnsley East and Mexborough . It was recreated as Barnsley East at the 2010 general election . Eight candidates competed for the seat in the 2010 general election; however, the largest two opposition parties failed to gain more than 18.2% each and the winning candidate Michael Dugher managed to obtain 47% of all votes despite
722-533: The United Kingdom currently has 650 parliamentary constituencies across the constituent countries ( England , Scotland , Wales , and Northern Ireland ), each electing a single member of parliament (MP) to the House of Commons by the plurality ( first-past-the-post ) voting system, ordinarily every five years. Voting last took place in all 650 of those constituencies at the United Kingdom general election on 4 July 2024 . The number of seats rose from 646 to 650 at
760-583: The abandonment of the Sixth Periodic Review (the 2018 review), the Boundary Commissions formally launched the 2023 Review on 5 January 2021 and published their final proposals on 28 June 2023. See 2023 Periodic Review of Westminster constituencies and List of United Kingdom Parliament constituencies (2024–present) by region for further details. Monetary Policy Committee (United Kingdom) The Monetary Policy Committee ( MPC )
798-461: The allowed range. It should also set out what plans the Bank has for rectifying the problem, and how long it is expected to remain at those levels in the meantime. In January 2009 the Chancellor announced an Asset Purchase Facility (APF), to be administered by the MPC, aimed at ensuring greater liquidity in financial markets. The committee had already started to cut rates the previous autumn, but
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#1732869238864836-583: The base rate was cut six times to an all-time low of 0.5% in order to avoid deflation and spur growth. In March 2009, the MPC launched a programme of quantitative easing , initially injecting £75 billion into the economy. By March 2010, it had also increased the amount of money set aside for quantitative easing to £200 billion, a figure later increased by a further £75 billion in the months following October 2011. The MPC announced two further £50 billion rounds of quantitative easing in February and July 2012, bringing
874-472: The committee by date of appointment are: The dates listed show when their current terms of appointment are due to, or did, end. As of January 2008, Mervyn King , the Bank of England's then Governor, was the only MPC member to have taken part in every meeting since 1997. As a result, after the MPC meeting in July 2013, the first after King retired, no single member had attended every meeting. As of 2016, Kate Barker
912-422: The correct course of action. The Governor chooses the policy most likely to command a majority and, on the third day of the meeting, a vote is taken; each member gets one vote. Those in the minority are asked to give the action they would have preferred. The committee's decisions are announced at noon the day after the meeting has concluded. Following a procedural change in 2015, minutes of each meeting (including
950-469: The effect of such changes can take up to two years and rates cannot go below zero. By March 2009, faced with very low levels on inflation and interest rates already at 0.5%, the MPC voted to start the process of quantitative easing (QE) – the injection of money directly into the economy – via the APF. It had the Bank buy government bonds ( gilts ), along with a smaller amount of high-quality debt issued by private companies. Although non-gilts initially made up
988-527: The first time in the MPC's history. This was followed by deflation of 0.1% in April 2015, the first month of negative CPI growth since the 1960s, and triggering a second letter. As of February 2015, Carney has written five such letters. Following the UK's vote to leave the European Union in June 2016, the MPC cut the base rate from 0.5% to 0.25%, the first change since March 2009. At the same time, it announced
1026-539: The form of a "point", rather than the "band" used by the Treasury prior to 1997. The secondary aim of the committee is to support the government's economic policies, and help it meet its targets for growth and employment. That secondary aim was reinforced by then Chancellor of the Exchequer George Osborne in his March 2013 budget, with the MPC given more discretion to more openly "trade off" above-rate inflation in
1064-483: The government set for the MPC was 2.5% per year on the RPI-X measure of inflation, but in 2003 this was changed to 2% on CPI . The government reserved the right to instruct the Bank on what rate to set in times of emergency. The years 1998 to 2006 witnessed an unprecedented period of price stability – during which inflation stayed within a percentage point of the target – despite earlier predictions that it could sit outside
1102-626: The medium run to boost other economic indicators. The MPC is not responsible for fiscal policy , which is handled by the Treasury itself, but is briefed by the Treasury about fiscal policy developments at meetings. Under the Bank of England Act 1998 (c. 11) the Bank's Governor must write an open letter of explanation to the Chancellor of the Exchequer if inflation exceeds the target by more than one percentage point in either direction, and once every three months thereafter until prices are back within
1140-469: The meeting and is the last to cast a vote, acting as a casting vote in event of a tie. Representatives from the Treasury may attend the meeting, but only as non-voting observers. The MPC meets eight times a year, including four joint meetings with the Financial Policy Committee . After a half-day "pre-MPC meeting", usually the Wednesday before, meetings are held over three days, typically
1178-492: The policy preference of each member) are published on the Bank's website at the same time as any decision is announced, resulting in a "Super Thursday" effect. Prior to August 2015, the committee's decisions were published at noon on the final day of the meeting, but there was a two-week delay before any minutes were published. Starting with the March 2015 meeting, full transcripts of meetings will also be published, albeit after an eight-year delay. Outside of meetings, members of
Barnsley East (UK Parliament constituency) - Misplaced Pages Continue
1216-570: The presence of a candidate from the Socialist Labour Party . Although the percentage decline in the Labour vote was the largest in the country (at nearly 24%), they still won the seat safely. In 2017, Stephanie Peacock succeeded Dugher as MP for Barnsley East. Both between 1983 and 1997, and at the 2010 general election, this constituency has been a safe seat for the Labour Party , as indeed
1254-503: The range forty or more per cent of the time. A 2007 report produced for the Treasury Committee noted that the MPC's independence of government "has reduced the scope for short-term political considerations to enter into the determination of interest rates". The creation of the MPC, it said, brought with it "an immediate credibility gain". During this time, the MPC kept interest rates relatively stable between 3.5% and 7.5%. However,
1292-671: The responsibilities of the MPC: it would meet monthly; its membership comprise the Governor, two Deputy Governors, two of the Bank's Executive Directors and four members appointed by the Chancellor. It should publish minutes of all meetings within six weeks (in October 1998 the committee announced plans to publish far more quickly, after only one ). The Act gave the government responsibility for specifying its price stability target and growth and employment objectives at least annually. The original inflation target
1330-701: The total to £375 billion whilst simultaneously keeping the base rate at 0.5%. In March 2013, the Chancellor of the Exchequer, George Osborne, called on the MPC to follow its American counterpart (the Federal Reserve Board ) in committing itself to keeping interest rates low for a prolonged period of time via appropriate forward guidance , which it did on 7 August. These measures eventually proved insufficient to avoid deflation. Having taken over in August 2013, Governor Mark Carney wrote his first open letter in February 2015 to explain why inflation had fallen below 1% for
1368-434: The year. The committee is responsible for formulating the United Kingdom's monetary policy, most commonly via the setting of the rate at it which it lends to banks (officially the Bank of England Base Rate or BOEBR for short). As laid out in law, decisions are made with a primary aim of price stability , defined by the government's inflation target (2% per year on the Consumer Price Index as of 2016). The target takes
1406-413: Was a feeling that political factors were clouding what should be purely economic judgements on monetary policy. On 6 May 1997, operational responsibility to set interest rates was granted to the independent Bank of England by the Chancellor of the Exchequer, Gordon Brown . Guidelines for the creation of a new "Monetary Policy Committee" were laid out in the Bank of England Act 1998. The Act also set out
1444-622: Was its temporary replacement, Barnsley East and Mexborough. After the 2019 general election however, this constituency became a marginal seat, with Labour's vote share dropping by 21.9% and their majority cut to just 8.4%. 1983–1997 : The Metropolitan Borough of Barnsley wards of Brierley, Cudworth, Darfield, Dearne South, Dearne Thurnscoe, Wombwell North, and Wombwell South. 2010–2024 : The Metropolitan Borough of Barnsley wards of Cudworth, Darfield, Hoyland Milton, North East, Rockingham, Stairfoot, Wombwell, and Worsbrough. Following their review of parliamentary representation in South Yorkshire for
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