Blanchflower On The Economical Advisory Committee

David Blanchflower has an article inwards today’s Guardian close his experience on Labour’s Economic Advisory Committee (EAC) which was chaired past times John McDonnell. I concord amongst a lot of what he has to nation inwards the article, but non amongst the film painted of how the commission was used. He ignores the formation of Labour’s financial credibility rule which is an of import as well as tangible outcome of the committee’s advice, as well as Mariana Mazzucato’s piece of occupation featured strongly inwards John’s speeches. (More details here.) By ignoring these things he allows around critics to conclude that nosotros were beingness used precisely for our reputations: that is precisely false.

He besides fails to refer the groups John McDonnell established to hold off at special economical policy areas: groups that were quite independent of the EAC as well as the Labour party. The i on the Treasury chaired past times Bob Kerslake (details here) volition in all likelihood written report at the halt of this year, as well as if our discussions are anything to become past times it should travel of nifty involvement to anyone concerned close this fundamental travel of the UK’s mechanism of government. David himself was chair of a like grouping on monetary policy (of which I, Adam Posen on John McFall were besides members), as well as in i lawsuit to a greater extent than preliminary discussions were really positive, then personally I regret David ended that at the same fourth dimension equally he resigned from the EAC.

I accept seen then much nonsense written close how nosotros solely met twice (largely our choice), as well as close who attended (the solely mortal non to attend either coming together was Thomas Piketty, as well as he resigned earlier David Blanchflower because of the line per unit of measurement area of other commitments). I as well as other members did non resign from the EAC: consider the articulation tilt from v of us here. That tilt was critical of Labour’s inability to foreclose Brexit: I laissez passer my ain reasons for making this criticism here. As David notes inwards the article, I experience strongly that for Jeremy Corbyn to exceed along later 172 MPs voted no confidence inwards him equally leader would travel disastrous for the Labour party. However I besides believe John McDonnell should travel praised for openly involving academic economists inwards policymaking, as well as inwards beingness prepared to utilisation their advice.