Date posted: 16th Sep 2024
Experts from different sectors in and around the North East took part in the Shadow MPC.
The Shadow MPC is a partnership between Clive Owen LLP and The Northern Echo, which considers the region’s economy and invites business figures to argue their case for a shift, or hold, in the rate.
The members voted as a majority to cut interest rates, in order to try and boost the economy, before heading into uncertain economic times with the upcoming Budget announcement.
Partner, Simon Hook discussed his decision and key challenges and opportunities that clients are facing, including:
- Reduced spending on plant and machinery due to fiscal uncertainty
- Slow overall economic movement
- Softening of wage increases, which heavily impacted SMEs
- Low business confidence
We want to thank, John Cartwright, Karl Pemberton, Ryan Fenwick and Donna James for joining us in this discussion and Recognition PR for facilitating.
You can watch the full discussion below, or if you would like to find out more, speak to a member of our team here.
