Cardiff Business School And Professor Patrick Minford

EDM number 1239 in 1992-93, proposed by Rhodri Morgan on 25/01/1993.

That this House deplores the ú250,000 grant made over five years by the Cardiff Business School to Professor Patrick Minford of the University of Liverpool to study the Welsh economy; considers that these resources would be far better spent in building up real expertise in regional economic forecasting, than in bailing out a failed monetarist who has lost his ú100,000 a year Economic and Social Research Council funding and whose main function in the 1980s was to give a cloak of academic respectability to Thatcherism as a system of monetarist political economy, which did such devastating damage to the Welsh economy in that decade; and finds totally ludicrous the Cardiff Business School's assertion that Professor Minford's research work in Cardiff 'should provide a major input into policy decisions relating to the Welsh economy', an area of policy-making in which Professor Minford is singularly unqualified and from which he should be kept at a safe distance.

This motion has been signed by a total of 67 MPs.