Call for Increased Infrastructure Investment
Jim O’Neill, a prominent economist and former chief economist at Goldman Sachs, who has been appointed as Andy Burnham’s chief economic adviser, has put forward a proposal for the government to secure billions of pounds in additional borrowing. This funding would be specifically allocated to significant infrastructure investments, potentially indicating a different economic approach compared to policies championed by Keir Starmer.
Independent Body for Infrastructure Spending
O’Neill, who also previously served as a minister, suggested the establishment of an independent organization dedicated to infrastructure spending. He envisions this body operating similarly to the Office for Budget Responsibility (OBR), which would be empowered to allocate considerably more capital to large-scale projects without direct political influence. This independent structure, he argues, would allow for more consistent and substantial investment in crucial national infrastructure.
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