by Jim O'NeillTerence James O'Neill, Baron O'Neill of Gatley, a former chairman of Goldman Sachs Asset Management, and a former UK Conservative government minister, is a British economist.O'Neil is chair of the spooky Chatham House think-tank (Like the USA's Council on Foreign Relations).O'Neill thinks that, in some respects, a Labour government would be better than the current Conservative government.O'Neill writes at the ft :-"I am not overly concerned by some aspects of a prospective Jeremy Corbyn (UK Labour) administration."In at least six policy areas, which Mr Corbyn and his shadow chancellor John McDonnell are treating as priorities, businesses and the Conservative government need to catch up."O'Neil worries that the current Conservative government "has virtually no time for ...
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Terence James O'Neill, Baron O'Neill of Gatley, a former chairman of Goldman Sachs Asset Management, and a former UK Conservative government minister, is a British economist.
O'Neil is chair of the spooky Chatham House think-tank (Like the USA's Council on Foreign Relations).
O'Neill thinks that, in some respects, a Labour government would be better than the current Conservative government.
O'Neill writes at the ft :-
"I am not overly concerned by some aspects of a prospective Jeremy Corbyn (UK Labour) administration.
"In at least six policy areas, which Mr Corbyn and his shadow chancellor John McDonnell are treating as priorities, businesses and the Conservative government need to catch up."
O'Neil worries that the current Conservative government "has virtually no time for ... devolving powers and responsibilities to the urban regions.
"The Northern Powerhouse and Midlands Engine schemes now receive almost no attention."
O'Neill worries about Britain's productivity crisis.
Since the 2008 financial crisis, Britain has seen a 15-20% decline in GDP - "stemming from weaker productivity."
"Labour's readiness to explore new ways of shaking up the status quo is admirable."
O'Neill points out that lower corporation tax has not magically boosted investment spending.
O'Neill writes: "we should stop cutting corporation tax to increase profits with little societal gain."
According to O'Neill, "it was once assumed that, when unemployment fell below a certain level, wage growth would accelerate.
"It has not happened."
O'Neill worries about chief executives being paid large sums of money, while their companies are failing to make Britain a better place.
O'Neill worries about the privately run railways and utilities being badly managed.
O'Neill writes: "The Labour party has stepped into the vacuum left by the Conservative government and appears to be offering the radical change that people seek."