Stephen Millard, Deputy Director, Macroeconomic Modelling and Forecasting at National Institute of Economic and Social Research (NIESR) discussed the potential disruptive effects on the UK economy if extreme weather becomes the new normal. Smaller businesses, particularly local ones, are less equipped to handle increased heat compared to large corporations. Millard suggested that adapting the housing stock for air conditioning and anticipating changes in consumer behavior are crucial for the new normal of more hot summers.
