IEA Economics Fellow Julian Jessop has been quoted in The Daily Express discussing the prospect of the next Labour government inheriting a strengthening economy from the outgoing Conservatives.

The article said:

“And there is more positive news on the way, said Julian Jessop , economics fellow at free market think tank the Institute of Economic Affairs. ‘The BoE now forecasts the economy will grow by another 0.5 per cent in the second quarter of the year, on top of the 0.6 per cent growth in the first.’

“If correct, this will be a huge improvement on 2023 , when the economy grew by just 0.1 per cent across the entire year.

“Jessop said: ‘We also saw a further improvement in consumer confidence in June. Even the public finances were slightly less bad than expected’.

“Jessop said Starmer is likely to enjoy a political honeymoon given the better news heading our way. But it may not last if shadow chancellor Rachel Reeves takes advantage of a big Labour majority to ramp up taxes to fund public services.”

Read the full article in The Daily Express (23/06/2024, p.51) or on MSN.