PAUL Tucker, the deputy governor of the Bank of England and a leading contender to replace Sir Mervyn King as the UK’s most powerful regulator, was in Yorkshire yesterday to discuss trading conditions with local businesses, writes Bernard Ginns.
He visited UK Greetings, a direct-to-retail publisher and manufacturer of greetings cards based in Dewsbury. Mr Tucker, left, pictured with UK Greetings director, Brian Capps, said: “Visits such as these are invaluable for members of the Bank’s Monetary Policy Committee as they provide us with an insight into what is going on in the economy on the ground, as it happens.
“It is clear that the recovery has not come as quickly as we would have hoped and that has been tough for everyone. But there has been good news in the conversations I’ve had today, including of firms expanding into new export markets.”
He spent the day talking to contacts of the central bank’s agency in Yorkshire and the Humber.
The visit is one of many undertaken by members of the Bank’s Monetary Policy Committee each year to hear first-hand about trends in the economy and economic conditions affecting businesses in different areas of the country. Mr Tucker’s colleague Charlie Bean is visiting Hull on Wednesday.