Paul will be taking part in regular panel surveys, imparting his thoughts on business expectations and sharing information related to LML on topics including employment levels, capital investment and sales revenues.

The DMP — which was set up in 2016 by the Bank of England together with academics from Stanford University and the University of Nottingham — is comprised of executives from UK companies of all sizes operating in a broad range of industries.

DMP data is used to monitor the UK economy, track businesses’ views, and brief government ministers from various departments.

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“It’s a real privilege to have been approached to become a member of the Bank of England DMP, particularly at a time when UK businesses face a potentially long period of economic uncertainty,” said Paul.

“The UK’s most senior policymakers in the coming months will be faced with making some very difficult decisions to help steer the economy through the maze of rising inflation, increasing energy costs and labour pressures.

“The data I can provide, along with other DMP members, will be valuable in helping to inform these very tricky decisions as the country gears up for long-term economic recovery and growth.”