On 4th August 2017, the Muslim Council of Britain organised an event in partnership with the Bank of England, who have embarked on a series of regional Town Hall events across the UK to engage a broad range of society and improve public understanding of their role. The event was held in Leicester which was attended by Muslim community leaders, activists and professionals who all participated in discussions and provided their thoughts and experiences on expenditure, savings and why and how they make decisions when it comes to their money.
Andy Haldane, Chief Economist from the Bank of England, and Navshir Jaffer, Assistant Treasurer of the MCB both hosted and spoke at the event.
Addressing the audience, Mr Haldane said, “We need to understand how the economy is doing..You cannot do that sat in London all the time, at your desk, poring over the numbers in your spreadsheet..The most effective way of knowing what’s really going on, getting the colour and texture of the economy, is by getting out and speaking to people about how things are.”
The purpose of the Town halls is to engage directly and more extensively with wider communities and seek to understand the issues that matter most to people when making their decisions about saving, spending and working. This intelligence will then be fed back to policymakers at the Bank, including the Monetary Policy Committee.
The Town halls are intended to reach people not previously reached by the Bank. Their aim is to provide a space in which policy-makers can listen, every bit as much as talk.
Read coverage of this event in the Financial Times.