Although he insists it is not for him as a central banker to call for social welfare cuts, he says entitlements should be examined.

I fear he's being misquoted. Surely he said :

"Although he insists it is not for him as a central banker to call for entitlements to be examined, he says  social welfare should be cut."

There, that's better.

_{It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II}