Businesses meet with the Bank of England

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A panel made up of local business people have been giving feedback their to the Bank of England on whether companies are budgeting for growth or shrinkage for the rest of the year and into 2013.

At the meeting with the bank’s Alastair Cunningham at Spalding’s Springfields Events Centre last week were growers, food processors and representatives from the retail, property and education sectors.

They also commented on whether credit availability has become easier or harder over recent months and told Alastair how profit margins have evolved during the recession.

Alastair reports his findings from such meetings back to the Monetary Policy Committee.

The event was organised by Spalding and District Chamber of Commerce.

President Phil Scarlett said: “We would now like to hold more of this kind of event to provide hard information to the economic policy makers at the Bank of England.”