George Osborne has recruited Richard Davies, The Economist’s economics editor, to replace Rupert Harrison as chair of the Council of Economic Advisers, Coffee House understands. This position is essentially the Chancellor's top economic adviser, although Thea Rogers has taken on Harrison's chief of staff role.
Harrison was one of the most influential figures in the last government and was responsible for creating and implementing much of the government's economic policy — so much so that the Chancellor joked at his leaving party ‘it has been an honour to play a role in the Harrison chancellorship'. He left the Treasury after the general election and has since gone to work in the City.
His replacement has plenty of experience to fill these big shoes. Davies, 35, has worked at the Economist since 2012 but also has a wealth of experience in banking. He has worked at the Bank of England, the Competition Commission as well as consultancy work in the private sector. During his time at the Bank, Davies was a lead author of the Financial Stability Report, covering the stability of the banking sector.
Davies is the latest person to be snapped up in Osborne’s hiring spree, with the Daily Mail’s former political editor James Chapman joining his team as director of communications and Sue Beeby leaving the Department of Health to be Osborne’s press secretary.