Improving the effectiveness of public money

SeminarThe geoeconomic landscapeLondonEconomic and Monetary Policy Institute
Tue 30 Sep 202516:20 - 17:45

This seminar builds on OMFIF-EY work on the future of public money and how governments can more effectively allocate public funds to support better fiscal, economic and societal outcomes. It considers global efforts on public finance management, positive and negative feedback effects on countries’ credit ratings, the impact of digitalisation in enhancing outcomes and the viability of savings and pension systems in securing the effectiveness of public money.

Proceedings are off the record to encourage open dialogue. The seminar is in person in London, with a limited number of places available.

This session is part of a programme featuring speakers from across the public and private sectors, focusing on the geoeconomic landscape and the rapprochement between the UK, Germany and the European Union. It culminates in a reception at the German Embassy to mark the publication of Can Europe Survive? The Story of a Continent in a Fractured World by David Marsh, chairman of OMFIF. Marsh will be joined by Joachim Nagel, president of Deutsche Bundesbank, to discuss the findings of his book.

Speakers

Chris Giles

Economics Commentator

Financial Times

Chris Giles

Economics Commentator

Financial Times

Chris Giles has been at the forefront of analysis on the national and global economy for many years.  He is the FT’s Economics Commentator

He writes a fortnightly column and the weekly newsletter, ‘Chris Giles on Central Banks‘ Previously, he was Economics Editor and served as a leader writer. In 2023, he became an Honorary Professor of Practice at UCL Policy Lab.

During his tenure at the Financial Times he has been uniquely privileged in his access to the major facts in economics and his influence on their worldwide perception.    Chris offers a clear view of today’s economy at any scale — be it the whole world, the UK or Europe.

Giles brings extensive experience on-the-ground economic knowledge and insights in his talks. He is skilled as a keynote speaker, panelist, or moderator.  He can speak with assurance and depth on matters relating to global trends, the UK economy, its relationship inside Europe, drawing out the links and common themes. He has spoken and moderated at the IMF, Davos, and the World Bank, among others.  He has also worked with leading corporate firms in Europe, the US and in Asia.

Chris brings a deep understanding of the crucial factors of the economy — interest rates, inequality, innovation, productivity and public finances — and their roles in shaping the landscape in which business operates.

His accessible style steers clear of dry economic presentations, bringing the subject of economics alive to a general audience with anecdotes and the most up to date information. Before the FT, he worked for the communications regulator Ofcom, reported for the BBC, and served for seven years as an economist with the Institute for Fiscal Studies.

Mark MacDonald

Global Public Finance Management Leader

EY

Mark MacDonald

Global Public Finance Management Leader

EY

Mark is an advocate for the pursuit of a new vision of government fiscal policy, focused on a framework of public value that extends traditional components of public financial management.  Through his day job as EY’s Global Leader, Public Money, he works with public and private sector leaders who similarly advocate that the future of public money must be different than its past.  This exists at the convergence of fiscal requirement, technology advancement, market capability, and a sense that political economy is seeking new permission for lasting change.

Mark is a member of OMFIF’s Advisory Council and has worked on a series of research and advocacy pieces over the past several years, including work focused on application of innovative technology to public budgeting, continued pursuit of sustainable finance and the role of sovereign wealth and public equity, and our current focus on the Future of Public Money.  Mark is the global sponsor and leader of EY’s blockchain-enabled solutions developed to enhance delivery of public value, with particularly powerful application in the development sphere working with global entities including the United Nations, the IMF, and the World Bank.  He holds a Ph.D. in Public Policy, has 25 years professional experience advising public sector leaders, and maintains a positive belief that the pursuit of public value through markets and public institutions is a noble one.”

Jessica Pulay

Chief Executive Officer

UK Debt Management Office

Jessica Pulay

Chief Executive Officer

UK Debt Management Office

Jessica Pulay assumed the role of Chief Executive Officer of the UK Debt Management Office (DMO) in July 2024. She joined the DMO in 2015 as Co-Head of Policy and Markets, with responsibility for the UK government’s debt issuance and cash management, as well as the policy, research and business operations areas. She has been a member of the DMO’s Advisory Board since 2015.

Prior to joining the DMO, Jessica spent 16 years at the European Bank for Reconstruction and Development (EBRD) in London where she was Deputy Head of Funding, responsible for the EBRD’s borrowing programme and listed equity divestments.

Before joining the EBRD in 1999, Jessica worked as an executive director in the debt capital markets departments at Morgan Stanley and Goldman Sachs, and was also a managing director at Deutsche Bank, responsible for financing governments and supranational institutions.

Sir Tom Scholar

Permanent Secretary

UK Treasury (2016-22)

Sir Tom Scholar

Permanent Secretary

UK Treasury (2016-22)

Chair, Santander UK; Permanent Secretary, HM Treasury (2016-22)

Niels Thygesen

Chairman

European Fiscal Board (2016-24)

Niels Thygesen

Chairman

European Fiscal Board (2016-24)

Former Chairman, European Fiscal Board; Professor Emeritus of International Economics, University of Copenhagen

Timings

16:20 – 16:30: Arrival
16:30 – 17:45: Session

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