Lord O'Neill Declines Prime Minister Burnham's Economic Adviser Role, Supports Devolution

Lord O'Neill of Gatley, the former chief economist at Goldman Sachs, has ruled out accepting a position as a chief economic adviser within Prime Minister Andy Burnham's government. Despite speculation that he was a frontrunner for a senior economic policy role, O'Neill confirmed he would not be joining the administration.

Nevertheless, O'Neill conveyed his support for the Prime Minister's overarching vision for increased regional devolution across the UK. He specifically highlighted his backing for the Northern Powerhouse agenda, a policy framework aimed at boosting economic growth in the North of England through significant infrastructure investment and enhanced local powers.

This development follows ongoing discussions surrounding the implementation of the Northern Powerhouse initiative, which O'Neill has championed since its inception. His endorsement of the devolution agenda suggests a continued influence on government policy, even without a formal governmental position. The Prime Minister's office has not commented on O'Neill's decision.