Liberal Democrat peer and Property Week columnist Lord Oakeshott has been appointed to chair an expert panel advising on economic policy.

The Business Advisory Group will provide informal advice on business and the economy.

Lord Oakeshott will report directly to business secretary Vince Cable.

Cable said: “Tackling the challenges facing business requires new ideas from a range of experts.

“Economic knowledge and commercial experience are essential to developing policy and this new panel will be critical to finding new ways to move the economy forward.”

Lord Oakeshott is a Liberal Democrat spokesperson for Treasury and Work and Pensions who studied economics at Oxford University.

Further panel members are due to be confirmed.

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