On page 85 of the Autumn Statement, the Treasury said Hunt will close the EAC, which was set up about a year ago to provide “independent advice on economic and financial market issues” in the aftermath of the Mini Budget.
“The government thanks the council for their expertise, and will continue to seek advice from experts on issues under consideration including long-term economic challenges,” it said in the Autumn Statement.
Draft regulations offer FCA powers to restrict short selling in ‘exceptional circumstances’
The council comprised seven members, including JP Morgan’s Karen Ward and former Bank of England chief economist Andy Haldane.
When the council was set up last year, Hunt said it was in a bid to prioritise the UK’s economic stability and to underpin “ling-term growth”.
Karen Ward, chief market strategist EMEA at JP Morgan Asset Management, said: “It was an honour and a privilege to serve on the Council of Economic Advisers.”
