Hello and welcome to the Spectator podcast. I'm Larry Prendergast and on this week's episode

we'll be discussing the fraught relationship between Mark Carney and Theresa May, the similarities

between the sieges in Mosul and Aleppo and why we all have to wait so long at the airport.

First up, this week saw Bank of England Governor Mark Carney

announced that he would be stepping down from his post in June 2019.

This was the conclusion to a troubled few weeks

that started with the Prime Minister's Party conference speech,

in which he spoke of the bad side effects to recent monetary policy.

... rates and quantitative easing provided the necessary emergency medicine after the financial crash.

We have to acknowledge that there have been some bad side effects.

People with assets have got richer. People without them have suffered.

People with mortgages have found their debts cheaper. People with savings have found themselves poorer.

A change has got to come and we are going to deliver it because that's what a conservative

government can do. So what's the future for Carney and the Bank of England and Will May

need to recalibrate her relationship with the central bank. These are the issues that James

Forsyth tackles in his cover

piece this week, and he joins me now to discuss, along with Sam Bowman, the executive director of the

Adam Smith Institute. So James, why has there been a standoff between the Bank of England and the

government? Well, it all started with Theresa May's party conference speech when she criticised

the consequences of the Bank of England's monetary policy

and then said a change has got to come and we're going to deliver it. And I don't think her

team had any understanding of the implication of that line. People saw that outside the hall as a threat

...