Free economics seminars for the public will be held by Labour across the UK in an attempt to break away from “Westminster-dominated views” about public finances.

John McDonnell, the shadow chancellor, is launching the “New Economics” events in a bid to get members of the public talking about economic ideas in the hope they will inform Labour policy.

The events will include seminars and expert panels, including members

of Labour’s economic advisory group, such as Nobel Prize winner Joseph Stiglitz, and leading economists Mariana Mazzucato and Ha-Joon Chang.

Topics up for debate include inequality, technology and work, and the strategic state before a national conference on economics is held by McDonnell in May.

Speaking ahead of the first debate, the shadow chancellor said the views of the public would be taken into account as Labour comes up with its economic strategy.

“I am delighted to have some of the brightest minds in economics sharing their thoughts about how we can build an economy fit for the future,” he said.

“On the most pressing issues of the day – for example, how to tackle inequality, the role of innovation and the future of the workplace – Labour will be listening to what is being said while we put together our own proposals.

“These meetings are an important first step on the path to reshaping the economic debate in the country, and getting away from it being a Westminster dominated view of economics.”



A major frustration under Ed Miliband’s leadership was Labour’s inability to break the dominant Conservative narrative that the party was responsible for causing the economic crisis of 2008 by spending too much.

An official review of Labour’s election defeat found the failure of Miliband to sufficiently challenge that myth contributed to the public having more confidence in the Tories to run the economy.

Jeremy Corbyn won the Labour leadership contest on a clear anti-austerity platform, pledging to draw a clear dividing line with the Conservatives on the economy and oppose the government’s public spending cuts.

Speaking on the BBC’s Andrew Marr show on Sunday, Corbyn expanded on his proposals for pay ratios limiting excess executive salaries and curbs on dividend payments unless companies pay the living wage.

“Are we going to go down the road of the continuous, grotesque levels of inequality in our society, or are we going to regenerate ourselves as a high-tech, efficient manufacturing economy with good quality public services; with properly paid public service workers and a higher tax income because of the higher wages; and the higher levels of investment in manufacturing industry which actually makes the whole society better off,” he said.

“What is holding us back is the level of inequality, the high level of executive pay compared to workers’ pay, and the lack of investment in public services.”