Advisor O'Neill rules out government job but backs PM's devolution plans

Lord O'Neill's decision to rule out a government job is significant, as it was expected that he would take on a key role in advising Andy Burnham. This move may indicate that O'Neill prefers to maintain his independence and freedom to comment on economic issues without being tied to a specific administration. His background as a former chief economist at Goldman Sachs brings a level of credibility and expertise to any economic discussion, and his opinions are likely to be closely watched.

As O'Neill has expressed support for the Prime Minister's devolution plans, it suggests that he believes in the potential benefits of decentralizing power and decision-making. This could have important implications for the future of economic policy and regional development in the country. The devolution plans aim to give more autonomy to local regions, which could lead to more targeted and effective economic growth strategies. O'Neill's endorsement may help to build momentum and credibility for these plans, and his continued involvement in the public debate could help to shape the discussion around economic policy.

It will be interesting to see how O'Neill's decision to remain outside of government affects his ability to influence economic policy and decision-making. Despite not taking on a formal role, he may still have opportunities to advise and inform policymakers through other channels. As the devolution plans progress, it will be important to watch how they are implemented and what impact they have on regional economies. O'Neill's continued commentary and analysis will likely remain an important part of the conversation, and his views will be closely watched by policymakers, economists, and the general public.

Originally reported by bbc.co.uk. NewsChatter adds analysis for general news readers.