He is to be become senior fellow at the London offices of the Institute for New Economic Thinking (INET), which aims to “broaden and accelerate” the development of new economic thinking that can lead to solutions for the “great challenges of the 21st century.”
Part of his role will be to come up with new ideas on how to overhaul the financial system that led to the credit crunch. In a recent lecture at the Cass Business School, Lord Turner spoke of the need for a “radical” redesign of financial regulation and macro-prudential policy to ensure against future crises.
Four years after it was first proposed, the FSA has now been replaced by two new regulatory bodies – the Financial Conduct Authority and the Prudential Regulation Authority.
