Last night in Bristol saw the latest instalment of John McDonnell’s new economics tour, with prominent macroeconomists Ann Pettifor and Simon Wren-Lewis – both members of Labour’s economic advisory board – speaking to a packed audience. It was in many respects a remarkable occasion – not just for the content, but for the fact that it was happening at all.
John McDonnell started by outlining the nature of the project. Labour knew that it its defeat in 2015 owed much to its inability to set out a coherent economic vision; on his appointment as Shadow Chancellor, he had decided to create a team of advisors to develop a new policy, but also to engage the Party in the process. Hence this tour, an integral part of the enormous amount of work now being done to develop a new economic policy to challenge the disasters of austerity.
Ann Pettifor’s presentation focused…
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