Lancashire Business Leaders Contribute to National Economic Policy Discussions
Business leaders from across Lancashire gathered at an exclusive economic roundtable hosted by the Lancaster & Morecambe Chamber of Commerce, in partnership with the Bank of England and sponsored by Rathbones Investment Management. The event brought together a select group of Chamber ambassadors, board members, and business representatives to discuss key issues facing businesses in the region.
The discussion was facilitated by Ken Clark from the Bank of England and focused on topics including interest rates, inflation, CPI, recruitment challenges, and business confidence. A particular focus was the outlook for the UK economy over the coming years, with attendees exploring the potential impact of rising energy and oil prices, increasing inflationary pressures, and their effects on growth, investment, and consumer confidence.
The event provided a valuable opportunity for businesses to share first-hand experiences and insights, which will contribute to a report presented directly to the Bank of England's Monetary Policy Committee. The feedback from businesses helps policymakers gain a real-world understanding of economic conditions across the country and informs their decisions on monetary policy, including interest rates.
Graham White, chief executive of Lancaster & Morecambe Chamber of Commerce, emphasized the importance of ensuring that the voice of local business is heard, stating, 'One of the most important roles of the Chamber is to ensure that the voice of local business is heard.' He added, 'The discussions were honest, insightful and reflected both the challenges and opportunities facing our business community.'