Lifestyle Economics

IEA releases new report on tobacco substitutes

Smoking, along with other tobacco and nicotine use, is often discussed as if it were a disease rather than an individual consumption decision. This disconnect creates confusion and bad government policies, especially in the context of the “tobacco harm reduction” approach of substituting low-risk products, including e-cigarettes and snus, for cigarettes. A new report from … Continue reading “Abolish excise duties on e-cigarettes to reduce harm, argues new report”
Labour Market

IEA reacts to gender pay gap research

Commenting on the Institute for Fiscal Studies’ report out today on the gender pay gap, Mark Littlewood, Director General at the Institute of Economic Affairs, said: “This study tells us little that we did not already know. If anything, the IFS has provided us with more evidence that the wage gap has nothing to do … Continue reading “Employer discrimination not to blame for the gender pay gap”
Lifestyle Economics

IEA releases new report on the sugar levy

The sugar levy will fuel inflation, cost the government more than it brings in, and is very unlikely to have any measurable impact on obesity. Expectations that the levy will incentivise reformulation ignore the fact that extensive sugar reduction has already taken place; further changes are either physically impossible or commercially suicidal. It is widely … Continue reading “New sugar levy will cost taxpayers billions & do more harm than good”
Labour Market

IEA releases report on the politicisation of pay policies

How much people are paid and how that pay is determined have become too politicised, with a worrying increase in political grandstanding and direct intervention. New research from the Institute of Economic Affairs reveals that vast swathes of government action in pay policy are unnecessary and often based on poor economic analysis. The interventions themselves fail … Continue reading “Political intervention in wage-setting risks damaging UK employment”
Lifestyle Economics

IEA reacts to the Government's childhood obesity strategy

Commenting on the publication of the Government’s childhood obesity strategy, Christopher Snowdon, Head of Lifestyle Economics at the Institute of Economic Affairs said:  “The government is right to focus on getting children active but if this requires more spending it should come from general taxation not a regressive sugar tax. The sugar levy is an eye-catching … Continue reading “Sugar levy is an eye-catching but ill-considered gimmick”
Monetary Policy

Philip Booth comments on the decision to cut bank rate

Commenting on the news that the Bank of England will cut the base interest rate to 0.25 per cent, Philip Booth, Academic and Research Director and IEA SMPC representative said:  “Today’s decision to cut the base interest rate is both disappointing and ill-advised. The post-Brexit economic problems are down to consumer and business uncertainty and … Continue reading “Bank rate cut is premature”
Press Release

IEA reacts to the announcement that all foreign takeover bids will be assessed

Commenting on the news that Theresa May has announced all foreign takeover bids will be assessed to determine whether they are in the national interest, Mark Littlewood, Director General at the Institute of Economic Affairs has said: “The concept of a foreign takeover is largely meaningless in the modern world. The idea that the Prime … Continue reading “May’s economic nationalism a threat to prosperity”
Press Release

IEA reacts to Osborne's abandonment of budget surplus target

Commenting on the news that the Chancellor has abandoned his target to restore government finances to a surplus by 2020, Ryan Bourne, Head of Public Policy at the Institute of Economic Affairs has said:  “Abandoning the aim of hitting a surplus by the end of Parliament should under no circumstances be interpreted as an excuse … Continue reading “Spending restraint as vital as ever”
Government and Institutions

IEA reaction to leave vote EU referendum

Commenting on the news that the British electorate has voted to leave the European Union, Mark Littlewood, Director General of the Institute of Economic Affairs has said: “Today’s vote to leave the European Union presents the UK with a great and exciting opportunity to look outwards to the rest of the world, to take a … Continue reading “IEA reaction to Leave vote in EU referendum”
Government and Institutions

IEA releases report on reforming Britain's relationship with the EU

The European Union is a far cry from the liberal European economic inter-governmental organisation it should ideally be. It is too centralised, too focused on harmonisation, primarily serves vested interests and those working within EU institutions are subject to little democratic scrutiny. While the EU has largely delivered the free movement of goods, services, capital … Continue reading “Leave or remain: the two best paths to economic freedom”