Lord Jim O’Neill resigns from Government

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Treasury Minister, former Goldman Sachs Chief Economist, and Chair of the RSA’s City Growth Commission, Lord Jim O’Neill, has resigned from Government. This comes after rumours in July that he was unhappy with the Government’s approach to Chinese investment.

Lord O’Neill is a well regarded figure in economic policy, and only last week Theresa May wrote of the importance of having Northerners such as O’Neill at the heart of the Northern Powerhouse. The City Growth Commission spurned the devolution deals that have been agreed over the past two years.

In his resignation letter, Lord O’Neill said that he was pleased that May is committed to the Northern Powerhouse project, writing, according to ITV, “[the Northern Powerhouse being] at the heart of British economic policy is even stronger following the referendum, and I am pleased that, despite speculation to the contrary, it appears to be commanding your personal attention”.

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