Sir Danny Alexander, former UK Chief Secretary to the Treasury and now a vice-president of the Asian Infrastructure Investment Bank, was one of the chief architects of the UK government’s Bremain campaign. In his speech at an FCC lunch on September 15, he said that although economic data out of Britain has had a strong run since the vote to leave the EU, “it should be viewed cautiously” with a potential downturn still on the cards “as the Brexit negotiations begin in earnest and the economy processes the consequences”.
He has no plans to return the UK to help the Liberal Democrat coalition hang onto power.
Alexander first spoke about the “foundation of the first multilateral development bank of the 21st century”. He said that while the bank is Beijing based, “It’s not a Chinese bank – it’s multi-lateral, high-tech, and is recruiting globally.” The AIIB will make a big difference to dealing with Asia’s mammoth infrastructure challenges, he said.
The AIIB is still the new kid on the block, having been launched in January this year as part of China’s push to show its international finance credentials.
Alexander, who was Chief Secretary to the Treasury from 2010-2015, responsible for repairing Britain’s economy and public finances after the financial crisis, attained his banking post through the recommendation of his former Treasury boss George Osborne when he lost his seat in the general election in May 2015 to the Scottish National Party.
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