CONFERENCE SPEAKERS
£5K TO £10K
AFTER DINNER SPEAKERS
£5K TO £10K
'It would be hard to think of a more relevant speaker for the current time.'
Ernst and Young
WIKIPEDIA
TOPICS
Economic Overview, The Political Landscape
SPEECH TITLES
Lessons of recession
BIOGRAPHY
Norman Lamont was Chancellor of the Exchequer during the last recession, presiding over the withdrawal of sterling from the Exchange Rate Mechanism and what quickly became known as Black Wednesday. He has since been described by the economist Sir Alan Walters as "not only the most effective, but also the bravest Chancellor since the war."
Originally an investment banker with NM Rothschild, Lamont spent twenty five years in the Commons, serving in the Cabinet under both Margaret Thatcher and John Major. He was also David Cameron's boss - and they continue to have a close relationship.
In his speech Lamont charts the course of recession, looking to recovery in 2010. He foresees banks returning to full independence within a relatively short time frame, and argues against any temptation for the UK to sign up to the Euro. He is also very comfortable speaking after dinner, lacing the speech with a stream of anecdotes.
Since leaving the Commons Lord Lamont has held directorships with RAB Capital, Balli and Phorm. He is Chairman of the British Romanian and British Iranian Chamber of Commerce.
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EXTRACT FROM JLA SPEAKERS BREAKFAST
by Lord Norman Lamont
We are in an extraordinary and serious situation - one in which we are operating at the limits of our knowledge. This is the most serious recession of my lifetime, because it is not only a boom and bust cyclical recession, but also a banking recession.
For policy makers there is huge pressure to talk up the economy, but words can't create reality. When I was Chancellor, derision was heaped upon me when I spoke about the green shoots of economic recovery.
From the moment this recession began, people have been talking about when the green shoots would appear. The psychology this time around is very different. People have remembered that it will come to an end.
The Chancellor's main worry is borrowing. In government the Chancellor is the only one worrying about how much you are borrowing or spending - the other ministers are concentrating on their own departments and the PM always has one eye on the next election.
Many of the measures which have been taken are akin to pumping up a tyre with a huge puncture. Recovery will not happen until the cleaning up of the banking sector has been completed.
All economies have their own restorative powers. As prices drop, buyers come in and people see opportunities. Growth is the natural condition of any economy. New ideas, innovations, technical progress help countries through difficult periods.
We are also rediscovering old fashioned virtues like saving. We can't always finance our growth though borrowing, and the signs are that we are already adapting. In recession economies redefine and reinvent themselves - at the end of it all we will be stronger in the broken places.
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