Economist Jim O'Neill Rules Out Formal Economic Advisor Role Under UK Prime Minister
· World · BBC News, The Independent
Economist Lord Jim O'Neill has declined to take on a formal government role as an economic adviser, citing a reluctance to surrender control of his business interests. The crossbench peer and former Goldman Sachs chief economist was previously tipped to take up a senior advisory position. Lord O'Neill stated that while he supports the government's focus on devolution and economic policies, he wanted to avoid official rules such as placing shares in a blind trust. He previously served as a Treasury minister under the Conservatives and is well known for coining the BRIC acronym in 2001 to describe fast-growing developing economies. Despite declining the formal government position, he intends to maintain an informal relationship with the Prime Minister and his team.
Why it matters
The decision deprives the UK administration of a high-profile, experienced economist known for driving regional devolution and growth agendas in northern England.
Read the original report — BBC News
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