If you’ve heard the word “securonomics” at all, it has probably been with a disdainful sneer in a parliamentary sketch.
Rachel Reeves – the women who is likely to be our next chancellor of the exchequer, and – indeed – the first woman to hold that role, is keen to be taken seriously by the financial establishment. An economist by background (a Masters at LSE), with experience at the Bank of England and HSBC, she deserves to be.
She used her recent Mais lecture to spell out a little more of how a Labour administration would think about public finances differently. There are important implications for public services. And a strange word with a lot of thought behind it.
That securonomics buzzword underpins what Reeves sees as a UK version of an emergent economic consensus. In the US, the term is “modern supply-side economics”, and is closely associated with the Biden administration.
