PRESS RELEASE : Government to establish expert Economic Advisory Council [October 2022]

• Group of leading and respected experts will meet regularly to discuss UK and international economies and financial markets
• First Council members announced have decades of economic experience across the private and public sector
• Announcement comes as Chancellor commits to do “whatever is necessary for economic stability”, which is a critical part of the government’s mission to go for growth

The Chancellor of the Exchequer Jeremy Hunt has today (Monday 17 October) announced that the government will convene an expert panel of respected economists as part of a new Economic Advisory Council, as committed to by Prime Minister Liz Truss.

The Council will act as a consultative forum for the government to be advised on UK and international economies and financial markets. The Council will consist of leading and respected economists and will be attended by the Chancellor and the Treasury’s Chief Economic Adviser.

The first Council members are announced today, with further members to be added in due course. All members will be attending in an independent capacity, and have been chosen for their personal knowledge and expertise, as relevant to advising the government on the UK economy

The Chancellor of the Exchequer Jeremy Hunt said:

I look forward to working with such an esteemed group of economic experts, whose advice will be invaluable.

In a period of global economic challenge and volatility, exacerbated by Putin’s illegal invasion of Ukraine, prioritising UK economic stability is vital and will underpin long-term growth.

Care will be taken to ensure Council members are not privy to any material non- public information, or market sensitive information.

Read the terms of reference for the government’s new Economic Advisory Council.

Initial list of Council members

• Rupert Harrison, BlackRock
• Gertjan Vlieghe, Element Capital
• Sushil Wadhwani, PGIM Wadhwani
• Karen Ward, J. P. Morgan Asset Management