The man who heads the Bank of England’s team responsible for developing the Bank’s macroprudential framework, spoke to regional business leaders in Brighton last night (11 Dec) about the current risks to the UK economy.
David Aikman, who in his role as Technical Head of Division for Strategy and Support will be charged with applying the Bank’s macroprudential rules in the event of a post-Brexit economic upheaval, was the main speaker at an invitation-only event organised jointly by EMC and Handelsbanken at the Sussex County Cricket Ground.
He emphasised that, as detailed in the Bank’s latest stability report, the UK economy is in a resilient position and, even in the worst-case scenario of a distressed Brexit and a downturn in the economy, is far better placed than pre-2008.
EMC CEO Nik Askaroff said: “It was a great opportunity for some of the region’s business people to hear straight from the horse’s mouth about some of the threats and strains that may be imposed on the economy by Brexit and how the Bank of England could go about mitigating them.
“It also provided them with a unique platform to be able to quiz directly one of the country’s leading bankers who has also sat on the Board of Governors of the Federal Reserve in Washington. I’m sure they all went away far better informed than when they arrived.”
There was also a Christmas raffle during the lunch which raised £540 for The Starr Trust.
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