The Bank of England’s chief economist is confident about recovery
Andy Haldane, chief economist of the Bank of England, spoke at the Cheshire and Warrington Local Enterprise Partnership (LEP) annual meeting and highlighted that the UK economy is recovering faster than expected from the impact of the Covid-19 pandemic.
At the event, Haldane was interviewed by Cirrus director Clare Hayward, chair of the Cheshire and Warrington LEP. In this role, Clare brings private and public sector together to drive innovation, retain and attract more businesses and talented people, and develop future-focused skills and career opportunities.
In a headline-grabbing speech, Haldane acknowledged the extraordinarily uncertainty organisations are facing, but stressed that the “unexpectedly positive progress” the UK economy has made so far this year should not be overlooked.
“My concern at present is that good news on the economy is being crowded-out by fears about the future,” said Haldane. “Averting an economic anxiety attack calls for a balanced and flexible approach to the words and actions of businesses and policymakers. Planning for the worst is important, but needs to be accompanied by hope for the best.”
“It was a pleasure to welcome Andy Haldane to the Cheshire and Warrington LEP annual meeting,” said Clare. “I very much agree that balance and flexibility are key for leaders across all sectors. Although the pandemic has presented numerous challenges, many positives have emerged. The demands on leaders have presented opportunities to build more agile, focused and socially responsible organisations. The more we can develop our leaders to adapt to ongoing change and uncertainty, the more successful our organisations will be.”