In 2009, as the world struggled through the financial crisis, two economists saw an opportunity to do things differently. Andy Haldane (Bank of England economist) and Martin Brookes (then CEO of think tank New Philanthropy Capital) recognised that while lawyers and consultants often volunteered their expertise for social good, economists rarely did. And yet, charities needed economic insight to thrive, and economists wanted to help. Out of this realisation, Pro Bono Economics (PBE) was born.
Launched at the UK Treasury, PBE quickly gained influential supporters, including Cabinet Secretary Gus O’Donnell and leading figures from business and media. The goal was clear: to connect economists with charities, helping them measure impact, improve effectiveness, and strengthen their work.
Over the next decade, PBE proved its worth. By 2019, we had worked with 450 charities and engaged over 500 volunteer economists. Co-founder Brookes reflected:
“The first ten years of Pro Bono Economics can be seen as testing whether (a) economists do in fact want to volunteer; and (b) charities can benefit from their skills. Thankfully, the answer to both questions is yes.”
As PBE grew, so did our leadership. Sue Holloway (former government economist) became the first Director in 2010, followed by Julia Grant in 2016, who oversaw a major expansion. The same year, O’Donnell became PBE’s Chair of Trustees, replacing co-founder Brookes.
In 2019, former Resolution Foundation economist Matt Whittaker replaced Grant as CEO, launching the Law Family Commission on Civil Society, a groundbreaking initiative exploring ways to unlock the full potential of civil society. We also expanded our services, building an in-house research team and evolving our operating model to deliver even greater impact.
In 2022, co-founder Haldane returned as President, following time in government designing the plan for Levelling Up.
By 2024, we had supported over 634 social impact organisations and hosted nine public events, including the Labour and Civil Society Summit with soon-to-be Prime Minister Sir Keir Starmer. That year also saw the launch of our flagship ‘Low Wellbeing in the UK’ report, a critical step in our mission to address wellbeing poverty.
The momentum continued into 2025, as leading economist Tera Allas took over as Chair of trustees from Lord Gus O’Donnell, who became Honorary President. With a renewed three-year strategy, a stronger commitment to ending low wellbeing in the UK, PBE reached a defining moment.
Recognising its expanded mission beyond volunteer matching, we rebranded as ‘PBE – Economics to improve lives.’ This evolution reflects our ambition to go deeper, create greater impact, and engage new audiences and partners in shaping a better future for all.