On Wednesday 11 October, Iain Stewart MP attended a roundtable organised by the Milton Keynes Chamber of Commerce with the Deputy Governor of the Bank of England, Sir David Ramsden.
In attendance at the roundtable were a range of local businesses, organisations and representatives from across Milton Keynes, all of whom keen to share their personal experiences and thoughts on the current financial situation.
It was an opportunity to discuss the current economic landscape, financial trends as well as the opportunities and challenges that are available in the different industries and sectors. Of course, inflation and interest rates were mentioned too.
The Bank of England’s Monetary Policy Committee, which Sir David Ramsden is a member, will next meet on 2 November 2023 to decide what level interest rates should be set at. By hosting roundtables with local businesses and organisations, it provides him an opportunity to understand what the situation is like on the ground ahead of any decision-making.
Milton Keynes South MP, Iain Stewart commented: “Milton Keynes is home to many brilliant businesses and organisations that contribute to our economy and provide employment for local residents.
“That is why I, along with other Milton Keynes businesses and organisations, really welcomed the opportunity to discuss the current economic landscape both locally in Milton Keynes and nationally across the country with the Deputy Governor of the Bank of England.
“I would like to thank Sir David Ramsden for providing this opportunity to local businesses and organisations, I am sure he has plenty of food for thought after yesterday’s discussions.”
Sean Rose, Head of Policy at Northamptonshire & Milton Keynes Chambers of Commerce, said: “These roundtables provide business leaders from Milton Keynes with the opportunity to hear directly from senior decision makers from the Bank of England. These meetings also give the Bank a great forum to hear from businesses on the ground.”
“We know from our conversations with businesses and our survey work that inflation is having a huge impact on firms across the region. That is why conversations about the base interest rate are so very important for firms to be involved in”
“The Chamber would like to thank the Open University for their continued support and to Iain Stewart MP for his continued engagement with our members”
Also at the roundtable, the Open University and the British Chambers of Commerce shared their recently published 2023 Business Barometer report. You can find a copy of the report here: https://www5.open.ac.uk/business/barometer-2023