Former Bank of England chief economist, Andy Haldane, is joining the chancellor of the exchequer’s economic advisory council.
(Bloomberg) — Former Bank of England chief economist, Andy Haldane, is joining the chancellor of the exchequer’s economic advisory council.
Jeremy Hunt named Haldane, who is currently chief executive of the Royal Society for Arts, Anna Valero, a senior policy fellow at the London School of Economics, and Jonathan Symonds, chair of GSK Plc, as three new members to the team providing him expert economic advice.
Haldane was chief economist at the BOE until summer 2021, when he was warning louder than any other interest-rate setter about the risk of inflation. He joined the BOE in 1989 and drove financial stability reform after the 2008 banking crisis before becoming chief economist.
The three appoints join Rupert Harrison from BlackRock, Sushil Wadhwani from PGIM Wadhwani, Karen Ward from JP Morgan Asset Management, and Gertjan Vlieghe from Element Capital on the committee.
The existing members work in the markets and were appointed after the LDI crisis last year. The new members add academic and business experience. Symonds is also advising the chancellor on pension reforms to attract more long-term investment into promising UK life sciences and tech businesses.
Hunt said: “I am delighted to announce three new members of the Economic Advisory Council who collectively have decades of economic experience across the private and public sector.”
“Economic growth is essential to our long-term prospects and in the face of global headwinds, this council plays a critical role in helping our economy meet these challenges.”
The next meeting will be later this spring, he added.
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