Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Don't get blindsided over EU, warns Goldmans' O'Neill

3 Comments
Don't get blindsided over EU, warns Goldmans' O'Neill

Goldman Sachs chair Jim O'Neill has urged UK manufacturers not to get 'blindsided' by Europe.

O'Neill warned British manufacturers would be better off improving relations with the Brics, rather than focusing exclusively on repairing trade lines with the battered single currency bloc.

Speaking at the EEF manufacturing conference, O'Neill said: 'Given the speed of growth in China and others, I don't think we can afford to have our opportunities constrained.

'While our position with the eurozone is of number one importance, we should not get blindsided as that being the key for our export future,' O'Neill added.

Turning to other parts of the economy, the respected retiring economist also warned the government off policies that could prove harmful.

These included tightening up on immigration and slashing the deficit too quickly.

Chancellor George Osborne (pictured) is already under pressure to ensure the UK's recovery stays on track, particularly after Britain was stripped of its AAA status.

Other economies like the US have been slower to introduce spending cuts, and while this did not shield it from ratings agency downgrades, it seems to have paid off in the longer term.

O'Neill urged that when it came to growth, a rising work force could be beneficial, and warned Osborne not to pursue policies that would 'impede' the economy.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Wealth Manager Retreat 2017: size isn't everything

Wealth Manager Retreat 2017: size isn't everything

We asked our delegates at the Wealth Manager Retreat what they think about the recent wave of consolidation in the industry.

1 Comment Play CIO Tapes - part 3: 'passive funds are anti-capitalist'

CIO Tapes - part 3: 'passive funds are anti-capitalist'

Citywire recently gathered three of the UK's leading fund investment heads to discuss their hopes, fears and the issues that their jobs throw at them daily.

Play CIO Tapes: do investors have it as good as it gets?

CIO Tapes: do investors have it as good as it gets?

Citywire gathered three of the UK's leading fund investment heads to discuss what they fear and what makes them cheer about the year ahead

Read More
Your Business: Cover Star Club

Profile: Rathbone's Newcastle boss on the road to £1bn

Profile: Rathbone's Newcastle boss on the road to £1bn

Starting from zero assets on day one, Rathbone's Newcastle team now looks after just over £400 million in clients money

Wealth Manager on Twitter