Cass Business School Hosts Shadow Chancellor for 2010 Mais Lecture
Shadow Cancellor, George Osborne MP delivered the annual Mais lecture to an audience of academics, students and senior City figures last night at Cass Business School.
London, United Kingdom, February 27, 2010 --(PR.com)-- “We will not hesitate to take difficult decisions to get Britain working,” was the stark message from the Shadow Chancellor, George Osborne, as he delivered the annual Mais lecture to an audience of academics, students and senior City figures last night at Cass Business School.
Mr Osborne made it clear that in his view, “swingeing and savage cuts,” were essential to avoid the international business community losing confidence in Britain and he would not shy away from tough decisions on spending but that would only do so in a "careful and co-ordinated" way.
The Shadow Chancellor argued that the existing policy framework failed to prevent the crisis, is unable to deal with the current weakness of the economy and won’t be able to stop it happening again. He set out a new economic model for growth based on saving and investment that can ensure that private and public debt are sustainable in the future, including:
• A new system of financial regulation, with the Bank of England back in charge of controlling the overall level of debt in the economy.
• A new fiscal policy framework, with an independent Office for Budget Responsibility to ensure that public debt is sustainable.
• A supply side revolution that releases the pent up enterprise and wealth creation of our country, encourages a nation of savers, and addresses long term structural weaknesses like poor education and a welfare system that traps people in workless poverty.
Professor Geoffrey Wood, in attendance at the lecture, said: “Mr Osborne’s speech was excellent, sound conclusions very well argued and explained. I particularly welcomed the stress on having the right policy framework; too many people forget that in the discussion of day-to day numbers, most of which in any event we know to be wrong.”
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 prestigious speakers such as Tony Blair; Gordon Brown; Mervyn King, Governor, Bank of England (2005). The 2008 lecture was given by Chancellor of the Exchequer, Alistair Darling.
Located in the heart of London’s financial district, Cass Business School is a leading provider of business and management education.
Our MBA is recognised globally as a market leader, we have the widest portfolio of Specialist Masters programmes (MSc) in Europe and our Undergraduate School is one of the best in the UK. Ranked in the UK’s top 10 business and management research schools, means we attract leading PhD students.
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Mr Osborne made it clear that in his view, “swingeing and savage cuts,” were essential to avoid the international business community losing confidence in Britain and he would not shy away from tough decisions on spending but that would only do so in a "careful and co-ordinated" way.
The Shadow Chancellor argued that the existing policy framework failed to prevent the crisis, is unable to deal with the current weakness of the economy and won’t be able to stop it happening again. He set out a new economic model for growth based on saving and investment that can ensure that private and public debt are sustainable in the future, including:
• A new system of financial regulation, with the Bank of England back in charge of controlling the overall level of debt in the economy.
• A new fiscal policy framework, with an independent Office for Budget Responsibility to ensure that public debt is sustainable.
• A supply side revolution that releases the pent up enterprise and wealth creation of our country, encourages a nation of savers, and addresses long term structural weaknesses like poor education and a welfare system that traps people in workless poverty.
Professor Geoffrey Wood, in attendance at the lecture, said: “Mr Osborne’s speech was excellent, sound conclusions very well argued and explained. I particularly welcomed the stress on having the right policy framework; too many people forget that in the discussion of day-to day numbers, most of which in any event we know to be wrong.”
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 prestigious speakers such as Tony Blair; Gordon Brown; Mervyn King, Governor, Bank of England (2005). The 2008 lecture was given by Chancellor of the Exchequer, Alistair Darling.
Located in the heart of London’s financial district, Cass Business School is a leading provider of business and management education.
Our MBA is recognised globally as a market leader, we have the widest portfolio of Specialist Masters programmes (MSc) in Europe and our Undergraduate School is one of the best in the UK. Ranked in the UK’s top 10 business and management research schools, means we attract leading PhD students.
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Cass Business School
Nick Jones
+44 (0) 20 7040 8600
www.cass.city.ac.uk
Nick Jones
+44 (0) 20 7040 8600
www.cass.city.ac.uk
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