Read on Twitter
Plenty to digest in the Mais lecture by @AnnelieseDodds
But to pick out a few points...
From an economic perspective, perhaps most interesting is the bit on "muscular" competition policy & reforming the @CMAgovUK mandate. https://twitter.com/AnnelieseDodds/status/1349470666739900417
But to pick out a few points...
From an economic perspective, perhaps most interesting is the bit on "muscular" competition policy & reforming the @CMAgovUK mandate. https://twitter.com/AnnelieseDodds/status/1349470666739900417
Absence of any mention of nationalisation notable - clear break from Corbyn-era fixation on public ownership
Part on ensuring value for money from spending feels shrewd - highlights recent egregious waste & posits Lab as fiscally responsible, tilting against impressions
Part on ensuring value for money from spending feels shrewd - highlights recent egregious waste & posits Lab as fiscally responsible, tilting against impressions
...Bit on fiscal rules is, obviously, underdeveloped, essentially saying @TheIFS has reasonable ideas (which is always true)
No mention of McDonnell-era Lab fiscal rules - which were pretty sensible & she was party to drawing up...
No mention of McDonnell-era Lab fiscal rules - which were pretty sensible & she was party to drawing up...
....Suspect political optics ("new management" for Labour) rather than economics are the reason for that.
Also couldn't help noticing that reference to "rolling, forward-looking current budget balance" is essentially the same as Osborne's original 2010 mandate (right)...
Also couldn't help noticing that reference to "rolling, forward-looking current budget balance" is essentially the same as Osborne's original 2010 mandate (right)...
Underappreciated that the problem with Osborne's rule was not the wording but that he refused to use the latitude available *within it* to expand capital spending when growth slowed.
Deviating from plans seen as politically devastating - Ed Balls had done his job too well
Deviating from plans seen as politically devastating - Ed Balls had done his job too well
But that's history now.
Dodds has clearly learned from it - & Labour's more recent economic credibility problems.
But still LOTS to flesh out.
Dodds has clearly learned from it - & Labour's more recent economic credibility problems.
But still LOTS to flesh out.
