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Nicholas Stern urges Andy Burnham to appoint Ed Miliband chancellor
Stern, a former Treasury and World Bank economist, said a Miliband-led agenda could involve raising investment spending by 2 to 3 percentage points of national income.
Nicholas Stern, a former chief economic adviser to the UK Treasury and a professor at the London School of Economics, urged Andy Burnham to appoint Ed Miliband as chancellor if Burnham becomes prime minister.
In an argument published by The Guardian Economics, Stern said Miliband has the experience and strategic vision Stern expects to “accelerate investment” and rebuild public trust, and described the approach as bold in the sense of having a clear direction for where investment should go.
Stern also argued that winning growth will require explaining why spending should increase by 2 to 3 percentage points of national income, citing investment needs in clean, efficient and modern infrastructure, including energy, cities, and transport, alongside investment in human capital.
The outlet noted Burnham has not named a likely chancellor and that Miliband has been among a number of figures, including Wes Streeting and Shabana Mahmood, tipped to replace Rachel Reeves, with Stern joining other senior academics and officials backing the idea.