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"Through the British Film Commission, we're supporting the development of stage spaces like this across the UK - boosting the local economy and backing our world-class creatives to make the next Bond blockbuster or bingeworthy box set."

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Senior Adviser Andrew Sentance comments on the latest UK inflation and labour market figures, arguing that the Monetary Policy Committee must step up to the challenge of preventing any damages of a possible inflationary surge.

The latest UK inflation and labour market figures contain a mixture of encouragement and warning signs.

The headline unemployment rate is edging down and may have peaked at around 5 percent – though we need to wait for the roll-off of the furlough scheme to be sure. It is also encouraging that the number of unfilled vacancies has risen to just over 750,000 – only slightly below the pre-pandemic level.

Inflation has picked up to 2.1 percent, its highest level for nearly 2 years. Worries that the economy would lurch into deflation because of the pandemic have proved false once again, as they did during the Global Financial Crisis.

You can add location information to your Tweets, such as your city or precise location, from the web and via third-party applications. You always have the option to delete your Tweet location history. Learn more

You can add location information to your Tweets, such as your city or precise location, from the web and via third-party applications. You always have the option to delete your Tweet location history. Learn more

You can add location information to your Tweets, such as your city or precise location, from the web and via third-party applications. You always have the option to delete your Tweet location history. Learn more

You can add location information to your Tweets, such as your city or precise location, from the web and via third-party applications. You always have the option to delete your Tweet location history. Learn more

You can add location information to your Tweets, such as your city or precise location, from the web and via third-party applications. You always have the option to delete your Tweet location history. Learn more

You can add location information to your Tweets, such as your city or precise location, from the web and via third-party applications. You always have the option to delete your Tweet location history. Learn more

You can add location information to your Tweets, such as your city or precise location, from the web and via third-party applications. You always have the option to delete your Tweet location history. Learn more

You can add location information to your Tweets, such as your city or precise location, from the web and via third-party applications. You always have the option to delete your Tweet location history. Learn more

You can add location information to your Tweets, such as your city or precise location, from the web and via third-party applications. You always have the option to delete your Tweet location history. Learn more

Ten years ago yesterday was my last day as a member of the Bank of England’s monetary policy committee. I served on the committee from October 2006 until May 2011 and it was certainly a very interesting time to be involved with UK monetary policy. My term included the tail-end of the mid-2000s global boom, the 2008-09 financial crisis and the early stages of the post-crisis recovery.

When I left, I was arguing — along with two other committee members, Spencer Dale and Martin Weale — that the time had come to start to gradually raise the official bank rate from the record low of 0.5 per cent to 0.75 per cent.