Labour’s Shadow Chancellor will today
(Wednesday 13 January) shatter the glass ceiling in the world
of economics by becoming the first woman to deliver the
prestigious Mais lecture to the Business School at City
University, London.
The lecture, entitled ‘The challenges of the post-Covid,
post-Brexit UK economy – a response’ will set out Labour’s
“responsible framework for a resilient economy” and a better,
more secure future for Britain.
Calling for an end to 10 years of poorly targeted public
spending and the chaotic, last-minute economic decision making
that left Britain with the worst recession in the G7 last year,
Dodds will outline the responsible choices Labour would take to
tackle long-term challenges and build a more secure economy.
She will commit Labour to a “responsible fiscal framework”
focused on economic resilience, with forward-looking targeting
of a balanced budget but allowing for flexibility in times of
crisis and for productivity-enhancing investment.
She is expected to say:
“If we are to deliver a resilient, jobs-rich recovery from this
crisis and a stronger, better future for the 2020s and beyond,
we must make effective use of all economic policymaking levers
at our disposal. That means an independent Bank of England
setting monetary policy; a responsible government using fiscal
policy to ensure public money is spent effectively and wisely;
and action to improve resilience, including in the face of the
climate crisis, and to deal with challenges to our economic
competitiveness.”
Highlighting the billions of pounds of public funds wasted by
successive Conservative governments, Dodds will make a
“cast-iron commitment to delivering value for money for the
British people” by asking the National Audit Office to make an
annual assessment of how well the government is spending money
and committing the Treasury to implement its recommendations.
She will say:
“This approach – hardwiring value for money and financial
control into the budgetary process – would focus on real
outcomes, not eye-catching announcements designed to raise
expectations today, only for them to be dashed tomorrow.”
Dodds will take also aim at the Conservatives’ irresponsible
economic policies over the last decade, arguing that a culture
of short-term economic decision making left the economy in a
weak position going into the Covid-19 crisis.
She will accuse current Chancellor of compounding the damage over the last year, saying:
“The public’s health has been opposed to economic outcomes,
ignoring the impact of fears around the virus on consumption,
and the much larger economic costs incurred by restrictions
being imposed later than they should have been. One indication
of this failure to understand the link between health and the
economy was the Chancellor’s refusal to accept SAGE
recommendations for earlier, stronger measures against
Coronavirus during the autumn.”
Ends
Notes to editors
- The annual Mais lecture is regarded as the City of London’s
foremost event for the banking and finance community, and is
attended by senior practitioners and academics. Since its
inception in 1978, the Mais has maintained a tradition of
welcoming prestigious speakers. Previous speakers include Nigel
Lawson, , , and
.
- This year’s lecture, entitled ‘The challenges of the
post-Covid, post-Brexit UK economy – a response’, will be
delivered by Labour’s Shadow Chancellor on
Wednesday 13 January at 6pm. Dodds will become the first ever
female speaker to deliver the Mais Lecture.
The lecture is free to attend via this registration link:
https://city-ac-uk.zoom.us/webinar/register/WN_nM9JEup_S-yig45imLiyiQ
