Burnham’s speech is hopeful vision for economic reset

The New Economics Foundation reacts to Andy Burnham’s speech on the economy

Danny Sriskandarajah, chief executive at the New Economics Foundation (NEF), said:

“This morning’s speech sets out a hopeful vision for people-powered success. Three things stood out as particularly welcome: calling time on trickle-down economics, upping the need for public intervention when markets fail and shifting power to people and communities.

At a time of rising inequality it is good to hear Andy Burnham go beyond aggregate growth being a defining mission and instead focus on good quality, equitable growth. His ambition to set out a 10 year plan for bringing essential services like water, housing, energy and transport back under public control is much needed. And the promise to modernise an insufficiently accountable state and nurture a more collaborative politics will be welcome at a time of falling trust and growing division. None of this will be easy and the proof will be in the policy, but it has the makings of the economic and political reset the UK needs.”