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MPC member visits Northern Ireland plant to gather views on economy

By Margaret Canning

Published 18/02/2016

Business visit: Martin Weale
Business visit: Martin Weale

Economist Martin Weale, one of the 'hawks' of the Bank of England's Monetary Policy Committee (MPC), has visited Northern Ireland.

Mr Weale, who is to leave the MPC later this year, visited Dunmurry business Brookvent.

The company manufactures domestic ventilation systems.

Mr Weale did not make an official Bank of England speech during his visit, however, a spokesman for Brookvent said: "Mr Weale was keen to understand Brookvent's view of the current economic business conditions in the UK and the regional-specific outlook in Northern Ireland.

"The discussion also centred on the SME perspective of issues facing manufacturers in general."

Mr Weale was also given a tour of Brookvent's production facilities, including its new aircycle 3.1. The company spokesman said government support had enabled it to carry out research and development, and invest in new staff.

He added: "The financial issues presented to Brookvent, as a consequence, uniquely positioned the company to provide Mr Weale with insight into the cost pressures and challenges and opportunities inherent in growing new export markets and investing in research and development."

Mr Weale has previously said that he's fearful of the consequences of delaying an increase in interest rates for too long, marking him as a 'hawk' on the MPC.

Belfast Telegraph

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