IEA releases report on trade policy post-Brexit

A trade deal with the EU is desirable but not essential. Post-Brexit, the UK’s priority in trade policy should be to trade as freely as possible with the rest of the world. If a bad deal is offered by the EU, the UK should walk away and continue to trade with the EU under the ... Continue reading

New IEA report first of its kind to measure net effect of smoking on the taxpayer in the UK

With the forthcoming sugar levy expected to raise £500 million per year, the government’s revenues from sin taxes will now total £24.7 billion by 2018. Contrary to popular belief, the three most censured ‘lifestyle factors’ – alcohol, smoking and obesity – do not cost the taxpayer money. The punitive taxes levied on them more than ... Continue reading

IEA's SMPC votes decisively for Bank Rate raise

The Institute of Economic Affairs' Shadow Monetary Policy Committee has voted decisively - eight votes to one - to recommend that the Bank of England's Monetary Policy Committee raise interest rates immediately. The SMPC's reasoning for voting for a Bank Rate rise are as follows: To reverse what was seen as a unnecessary cut last ... Continue reading

IEA response to the Taylor Review

The Taylor Review calls for increased regulation of flexible work. But it ignores the costs these interventions will cause by way of reduced employment. It cannot, therefore, show that the benefits it claims would follow from its proposed regulations exceed the costs. This is a fundamental methodological flaw that renders the Taylor Review’s recommendations almost ... Continue reading

Reaction to the Supreme Court's ruling on employment tribunal fees

Commenting on the Supreme Court's decision to rule Employment Tribunal fees unlawful, Len Shackleton, Editorial Research Fellow at the Institute of Economic Affairs, said: "The Supreme Court’s decision to rule Employment Tribunal fees unlawful is surprising; the government should think carefully how to respond. We do not want to go back to the situation where ... Continue reading

Reaction to the publication of BBC pay

Commenting on the publication of the BBC's top stars' salaries, Mark Littlewood, Director General at the Institute of Economic Affairs, said: "The publication of the BBC's top stars' salaries is a welcome step towards creating transparency between public services and the taxpayers who fund them - particularly while the licence fee is compulsory. Furthermore, these ... Continue reading

Reaction to the Commonwealth Fund study

Commenting on the publication of the Commonwealth Fund, Kate Andrews, News Editor at the Institute of Economic Affairs, said: "Despite the UK ranking 1st overall, a closer look at the Commonwealth Fund study illustrates that the NHS is far from being the 'envy of the world' when it comes to patient outcomes. "The NHS ranks ... Continue reading

Reaction to the Taylor review on employment practices in the modern economy

Commenting on the publication of Matthew Taylor’s Review into employment practices in the modern economy, Mark Littlewood, Director General at the Institute of Economic Affairs, said: “Taylor’s recommendations are likely to achieve little to reduce in-work poverty while increasing costs, which will be passed on to consumers in higher prices for taxi rides and home ... Continue reading

IEA releases report on healthcare funding

The UK has an ever-ageing population, with the ratio of people in retirement age to people of working age set to rise further. Currently there are 28 retirees for every 100 of working age. By 2064 this number will rise to 47 for every 100. Blaming the financial problems of the NHS on unhealthy lifestyles no ... Continue reading

IEA launches Brexit Unit & new paper on EU divorce bill

The IEA is delighted to announce the launch of its new Brexit Unit – set up to ensure that a strong, free market voice is heard clearly as the UK prepares to leave the European Union. Brexit provides a golden opportunity to create a more flexible, open and vibrant economy and to champion, by example, ... Continue reading