Businesses praise Bank of England event

Telford College business students got chance to meet one of the UK’s most senior economists during an ‘informative and inspirational’ briefing event.

Michael Saunders is a member of the bank’s Monetary Policy Committee – the group responsible for meeting each month to set the UK’s interest rates.

Mr Saunders was the guest of honour at Shropshire Chamber of Commerce’s latest Bank of England inflation briefing, which was hosted by Telford College.

After delivering an overview of the economy from his perspective, he answered a series of questions from a wide range of businesses, as well as college students.

Peter Jones from the commercial property department at Terry Jones Solicitors in Telford said: “Over many years I have attended many excellent public speaking events on a variety of subjects and I cannot remember one which was so lucid and so well-delivered.”

Mr Saunders was an economist at Citigroup for more than 25 years, and is also used as an expert witness on the UK economy for Parliament’s Treasury Select Committee. 

He was joined at the Telford College event by his Bank of England colleague Glynn Jones, deputy agent for the region.

During his chat with students, Mr Saunders answered questions on a wide range of topics, including the impact of the general election on the Bank of England, best study routes for career in economics, and reasons for holding gold reserves.

Business level three student Abdullah Mir described the session as ‘brilliant’. He said: “He gave us so much information. We learned about cash and the economy and how the level increases and decreases. I’ve definitely learned things I’ll use in my career."

Megan Davenport, who is studying A levels in economics, biology, and geography, said: “I learned the importance of China, and now I’m curious to learn more about the country and culture.”

Rosie Beswick, Shropshire Chamber of Commerce’s acting policy officer, and a college governor, described the event as ‘informative and inspirational’.

She said: “I want to say a big thank you to all who helped to make this possible, especially Mr Saunders. Firstly, he spoke about the economy, inflation and forward projections to local business leaders, and afterwards, he presented to the college's business students. I’m very proud of the Telford College students and their intelligent questioning.

“They clearly wanted to learn more about our economy, the global economic changes ahead and how to build good futures for themselves through academic routes.”

Pictured: Michael Saunders chatting with Megan Davenport