‘Rishinomics’ is rooted in the Treasury view but with a new Californian twist 4 October 2021 Commenting on Chancellor Rishi Sunak’s speech to the Conservative Party conference 2021, Lord Willetts, President of the Resolution Foundation, said: “The Chancellor’s speech was short and didn’t have much new policy, but nevertheless we learnt a lot about his approach to UK’s post-Covid, post-Brexit economy. “‘Rishinomics’ – rooted in the Treasury view but with a new Californian twist – turns out to be quite distinct from the Prime Minister’s argument that falling migration will drive rising wages and solve the UK’s economic challenges. “On the public finances and imminent welfare cuts, the Chancellor borrowed from his predecessor George Osborne, although with higher taxes playing a bigger role. On his wider economic strategy, the Chancellor sounded more West Coast than Westminster, by putting productivity-enhancing tech at the heart of his post-Brexit vision for Britain. And he is right that in the long run it is innovation and investment that will boost productivity and pay.”
