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Milton Keynes Chamber of Commerce Ltd

Member’s Bank of England Round Table

Posted: 08/04/21 by Milton Keynes Chamber of Commerce Ltd

Member’s Bank of England Round Table

The Bank of England expects the UK economy to re-cover strongly over 2021 towards pre-COVID levels, businesses in Northamptonshire & Milton Keynes have heard.

The Northamptonshire & Milton Keynes Chamber of Commerce welcomed Rosie Smith, the Bank of England’s Agent in the East Midlands, onto a call with firms from a range of sectors from across the region.

Businesses – from the legal sector through to CRM systems spe-cialists – gave Rosie their take on how they expect their own com-panies and the wider region to emerge from the crisis once re-strictions begin to be lifted.

That was following an update on where the Bank believes the econ-omy may be heading over the next year or so.

Issues flagged by firms included the role of hybrid working, the eco-nomic impact of government support ending and a shortage of skills to fill vacancies.

Rosie said: “It is always great to hear from business people on how they are finding the current climate, as that helps us to get a clearer picture of what is happening on the ground.

“Private round tables with organisations like the Chambers of Com-merce are useful to the Bank and provide business leaders with a forum to engage with our summaries of business conditions.”

Sean Rose, Policy Manager of the Northamptonshire & Milton Keynes Chamber of Commerce, added: “We are very grateful to Rosie Smith and the Bank of England for the update and it was great to give many of our members the chance to report back on how they are finding life in business on the back of the Budget, Brexit and the Government’s roadmap out of restrictions.”

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