Influential economist awarded Honorary Fellowship
Swansea University will present Professor David Miles, Member of the Bank of England’s Monetary Policy Committee, with an Honorary Fellowship today (Wednesday 20 July) during the Degree and Award Congregation for the School of Law.
Professor Miles, who attended Swansea’s Bishop Gore School, gained a first-class honours degree in Philosophy, Politics and Economics at University College, Oxford, and went on to study for his PhD on ‘Housing, Financial Liberalisation and Consumption’ at the London School of Economics.
Between 1981 -1993 he worked in academia, and between1983 and1989 was also an economist with the Economics and Money Markets Divisions of the Bank of England. He was an Economic Adviser to the Bank of England between 1993 -1994.
In the 2003 Budget, Gordon Brown, then Chancellor of the Exchequer, commissioned Professor Miles to lead a review of the UK mortgage market, which was published in the Spring Budget of 2004. Further recognition of his work was marked by his appointment as a non-executive Director of the Financial Services Authority from April 2004 - August 2009.
In March 2009, he was appointed to the Monetary Policy Committee at the Bank of England; a position he took up on 01 June 2009.
Speaking about the award of an Honorary Fellowship from Swansea University, Professor Miles said: “I am enormously pleased to be awarded an Honorary Fellowship at Swansea University. I grew up in Swansea and went to school within sight of the University. Many years ago the University was generous enough to let me use its library and a large proportion of my old economics, statistics and maths textbooks were bought from the University book shop. I look forward to building stronger links with Swansea University."
Swansea University's Vice-Chancellor, Professor Richard B Davies, said: “Professor Miles was a key member of the Holtham Commission on Funding and Finance in Wales, which examined the way in which Wales is funded under the existing Barnett formula.
“As such, he has played an important role in the debate on the way in which the allocation of public expenditure is made in Britain and to the devolved administrations of Wales, Scotland, and Northern Ireland. We are honoured to present him with this prestigious award.”
Swansea University’s Summer Degree and Award Congregations take place from Monday, July 18 – Friday, July 22. The Congregations are held in the City and County of Swansea’s Brangwyn Hall (part of the Guildhall). For more information about Swansea University Graduation Week, visit: www.swansea.ac.uk/graduation/.