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Nick Vaughan

Special Advisor, Innovative Finance at The Education Commission

Nick is a macroeconomist with 30 years of experience including 15 years in the UK Finance Ministry (HMT). He has a comparative advantage in all aspects of economic policy, financial markets, National Accounts, and technical skills e.g. macro modeling. On request by the UK Chancellor Gordon Brown, Nick originated and developed the International Finance Facility (IFF) in two years to indicative AAA credit rating in 2003; led technical discussions on IFF for HMT with Goldman Sachs, World Bank, S&P, Eurostat, and French and German Finance Ministries – the IFF went on to become the IFFIm. He was then moved on to promotion to develop the macroeconomic model for HMT and the economic and fiscal forecasts it supported. In December 2008 Nick was promoted to Deputy Director of the Economics Group to lead the UK economic and fiscal forecasts through the GFC for HMT along with an extraordinary range of policy advice. In 2014 he left HMT on promotion to Director of National Accounts and Economic Statistics with responsibility for producing all UK economic statistics including the financial accounts and Balance of Payments that in other countries are often produced by the central bank; in parallel to that role, he also developed and defined a transformation program for National Accounts that was then funded by HMT. In 2016 he took on the role of Chief Economist for the UK statistics office in addition to the responsibility for compiling the statistics, including public sector finances that deal with the classification of financial commitments by governments and public corporations. Subsequently, in 2018 Nick was approached for the role of Chief Economic Adviser for Jersey, a UK crown dependency, leading on all economic policy advice e.g. Brexit and COVID with extraordinary policies to support the economy and also fiscal stimulus, along with economic and fiscal forecasting.