Burnham economic adviser O'Neill rules out government job
Summary
Lord Jim O'Neill, an economist advising Prime Minister Andy Burnham, announced he will not take a formal role in Burnham’s government. He said he wants to keep control of his business interests and avoid the legal rules that come with government jobs.Key Facts
- Lord Jim O'Neill has been advising Andy Burnham, the Prime Minister of a regional government.
- O'Neill decided not to accept a formal government position.
- He does not disagree with Burnham’s policies, especially on devolution (shifting power to local governments).
- Taking a government role would require placing shares in blind trusts to avoid conflicts of interest.
- O'Neill was previously a Treasury minister under the Conservative Party from 2015-2016.
- He was once the chief economist at Goldman Sachs.
- O'Neill helped create the "Northern Powerhouse" plan to boost northern England's economy.
- He coined the term "BRIC" to describe fast-growing countries: Brazil, Russia, India, and China.
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