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The Economy is Doing "Rather Nicely" - news article image

The Economy is Doing "Rather Nicely"

8 Sep 2015

1 minute read

More than 80 business people turned up for the third annual Oxfordshire Economic Question Time event hosted by Withy King, Shaw Gibbs and HSBC at Said Business School recently.

Keynote speaker, Mark Berrisford-Smith, Head of Economics at HSBC, told the audience that ‘the economy is doing rather nicely and that is why it would be such a shame if events in Greece upset the applecart.’

He referred to a recent ‘golden week of data’ with employment figures up, continuing economic growth, inflation coming back and a buoyant retail sector. “There is nothing wrong with our spending,” Mr Berrisford-Smith said. “We are confident and prepared to spend more. We may not always like our politicians but at an individual level, we feel fine and are confident enough to spend. Borrowing in May was the lowest it’s been in years and the deficit is down.”

He said disposable income is rising and people are able to spend without having to borrow. “Next year, could be trickier,” he warned. “Where will earnings be at the end of next year? If earnings growth is only two per cent, that would not be good. But if it is three per cent or more, then recovery will continue and people will continue spending.”

Mr Berrisford-Smith and MP Nicola Blackwood joined panellists Lorna Watson, director at Shaw Gibbs, Richard Baxter, corporate partner at Withy King and Nicky Godding, Editor at Business & Professional Life to discuss a wide range of issues raised by the audience.

Videos from the evening can be found at our dedicated Economic Quesion Time You Tube channel here

 Peter O'Connell - Managing Director, Shaw Gibbs

Lorna Watson - Audit Director, Shaw Gibbs

Nicola Blackwood, MP for Oxford West and Abingdon

The Economy is Doing "Rather Nicely" - news article image

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