Ex-Columbia University President Takes on Role as UK Economic Adviser – Insights from i24NEWS

British Prime Minister Keir Starmer has chosen Minouche Shafik as his chief economic adviser. This decision comes at a critical time for the UK, as it faces economic challenges and a potential budget crisis.

Shafik, an experienced economist, brings a wealth of knowledge to the role. She has previously held high-ranking positions at the Bank of England, the International Monetary Fund (IMF), and the World Bank. Notably, she led the London School of Economics before her appointment to the House of Lords in 2020.

Her time at Columbia University in the United States was more controversial. She resigned in 2024, after only one year, facing backlash over her response to pro-Palestinian protests following the Hamas attacks on October 7, 2023. Critics accused her of not adequately addressing antisemitism on campus, while some students supported her decision to involve police in dismantling protest encampments.

Back in the UK, Shafik has become actively involved in various policy and cultural initiatives. She has provided guidance to Foreign Secretary David Lammy on international aid reform and has chaired the Victoria & Albert Museum since January. Additionally, she led a significant inquiry for the Resolution Foundation, where she advocated for changes to the UK’s wealth taxation system.

Understanding her role could be crucial for the UK economy. Some experts suggest that Shafik’s experience could help tackle issues like income inequality and economic growth. Recent data indicates that the UK economy has struggled to recover post-pandemic, highlighting the need for fresh perspectives and robust policy-making.

In a 2023 report from the Office for National Statistics, it was noted that wages in the UK have stagnated, impacting consumer spending and overall economic health. This context shows how vital Shafik’s role could be in shaping an effective economic strategy for the future.

Minouche Shafik’s expertise and leadership might just be what the UK needs to navigate its current economic landscape.



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