In memory of Sir Alan Budd

Sir Alan Budd, a distinguished economist and former Professor of Economics at London Business School, and a past Director of the Centre for Economic Forecasting, has died aged 85.

Professor of Management Practice in Accounting and former Dean of London Business School Andrew Likierman said of Sir Alan that he had the pleasure of “working with Alan in the Treasury and after that as a friend, as well as having him as a colleague at LBS”.

“In the Treasury he was greatly respected and our common background at LBS was hugely helpful in bridging the gap between the government’s economic and financial services. Alan was someone to whom I regularly went for advice, both in the Treasury and later. He would listen carefully, probe gently but persistently and then provide exactly the counsel that one hopes for in a trusted advisor. It was carefully considered, it was about the problem, not his ego or view of the world. A fine man. He will be greatly missed.”

Professor of Economics at London Business School Andrew Scott also benefitted from a close association with Sir Alan, saying, “There are few people who could match Alan’s knowledge of economic data and the interplay between forecasting and policy”.

“Alan hired me for my first spell at LBS. During that time I was always struck by how animated he became discussing whatever the then hot current topic was in UK policy as well as in organising the annual CEF cricket match. Sir Alan’s skills saw him at the helm of so many different UK economic policy institutions throughout his career. Our paths crossed frequently and I knew I could always rely upon him for good and wise counsel delivered with a warm smile.”

A founding member of the Bank of England’s Monetary Policy Committee, he moved to the Bank from the Treasury where he was Chief Economic Adviser. He had previously been Group Economic Adviser to Barclays Bank.

Sir Alan held the position of Provost of Queen’s College, Oxford from 1999 to 2008. Apart from his positions as Professor of Economics at the London Business School and Director of the Centre for Economic Forecasting, he held Visiting Chairs at the University of New South Wales and Carnegie-Mellon University. He graduated from the LSE and was awarded a Ph.D. from Cambridge University, and in 1997 he received a knighthood and was made GBE in the New Year’s Honours.

His last appointment was as Chairman of the Interim Office for Budget Responsibility (OBR).

The LBS community sends its sincerest condolences to the family and friends of Sir Alan.