By Vivienne Russell
19 February 2010
Economist Kate Barker is to step down from the Bank of England’s Monetary Policy Committee when her term expires at the end of May.
Barker has served on the MPC since 2001, having previously been chief economic adviser at the CBI and before that chief European economist at the Ford Motor Company.
In 2004, she chaired a government-commissioned review of housing supply, which recommended that an additional 70,000 houses be built in England each year in order to stabilise the increase in house prices.
She also led a review into land use planning, which reported in 2006. This recommended a more streamlined, transparent and flexible planning framework and more efficient use of land to encourage development in towns and urban areas.
Commenting on Barker’s decision to stand down, Chancellor Alistair Darling said: ‘I would like to take this opportunity to thank Kate for the major contribution she has made since she joined the committee.
‘During this period, her perspective has been extremely valuable, both to the work of the MPC and also to the government through the independent reviews she has completed on housing supply and land use planning.’