Bolster Community welcomes Bank of England to The Meadow
On Friday, February 21, Bolster Community was honoured to welcome Dr. Swati Dhingra external member of the Monetary Policy Committee for the Bank of England and Associate professor of Economics at the London School of Economics to The Meadow Newry for a community consultation, along with NI Bank of England agents Frances Hill and Gillian Anderson.
This session brought together local charity partners, stakeholders and service users to explore the local impact of global strategic economic decisions on everyday lives and experiences – including the rising cost of living in Newry.
Hearing first-hand from service users and community partners, Dr. Dhingra and her team gained valuable insight into how policy decisions translate into real-world impact - and why early intervention and collaborative support are more crucial than ever.
This consultation was a reminder that the focus on economics needs to mindful of the impact on people and pace as well as on profit, the Bank of England is modelling great engagement by listening, probing and engaging with communities at the grassroots level, and long may it continue to invest in this approach.
Dr. Swati heard from local charity leaders who stressed the income financial difficulties they face, in managing mandatory uplifts on Employers National Insurance and the minimum wage increases without any uplift in contracts to afford same. Further discussion centred on the challenge of sustaining skilled and passionate staff in an environment that’s witnessing more complexity as statutory services shrink and the third sector is tasked with picking up the pieces.
Service users spoke to their experience of feeling supported and connected within the 3rd sector provision in Newry and Mourne and some voiced their concern that 3rd sector programmes may not be sustained if staff cannot keep their jobs in the future.
Jacinta Linden, CEO Bolster Community, said “Opportunities for real engagement like todays visit are powerful reminders that the most vulnerable in society need advocates, we need to keep the focus on those most likely to be impacted by rising costs. The current context for supporting people is challenging and yet with poverty levels for children and old people spiralling, we need to do more.”
Would you like to join the conversation?
Join Bolster’s 20th Anniversary Conference ‘Everyday Heroes – Celebrating Extraordinary Impact’, on March 27 at the Canal Court Hotel, to explore how we ALL have a role to play in shaping a stronger, more resilient future.
Tickets can be bought now on Eventbrite, go to: https://bit.ly/everyday-heroes-conference