Thursday 22 December 2011

GreenInk 3 – did Sir Gus O'Donnell abolish boom and bust?

From: David Moss
Sent: 22 December 2011 10:23
To: ''
Subject: Sir Gus O'Donnell, 21 December 2011 -- It’s risks, not rules, that must point the way


Sir Gus O'Donnell quite rightly alludes to his influence on Gordon Brown's decision for the UK not to join the Euro.

What other decisions did he influence?

Sir Gus co-edited two books with Ed Balls. One of them, in 2002, congratulated Gordon Brown and celebrated the end of boom and bust. The other, in 2003, congratulated Gordon Brown for providing opportunity to all.

Sir Gus, by then, had been our man at the IMF and the World Bank. He had been Director of the UK's macroeconomic policy and Head of the government economics service – every economist in HMG reported to him. He had been responsible for the UK's fiscal policy, international development and EMU. And he had become Permanent Secretary at HM Treasury. Gordon Brown had been none of these things.

David Moss


1. Reforming Britain's Economic and Financial Policy: Towards Greater Economic Stability,

2. Microeconomic Reform in Britain: Delivering Opportunities for All,

3. Whose bust is it anyway?,

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