Reaction to the announcement on proposed cap on energy prices

Commenting on the announcement that the government will introduce an energy price cap, Julian Jessop, Chief Economist at the Institute of Economic Affairs, said: "The announcement that the government will impose an absolute cap on energy prices makes little economic sense. It is almost impossible for the regulator Ofgem to find the right price that ... Continue reading

Reaction to Theresa May's speech

Commenting on the Prime Minister’s speech at Conservative Party Conference, Mark Littlewood, Director General at the Institute of Economic Affairs, said: “The Prime Minister's encouraging rhetoric was followed up with the wrong policies. Saying that house prices necessitate government building is as wrongheaded as saying increased food prices require new state-run farms.  It is government ... Continue reading

Reaction to Chancellor Philip Hammond's conference speech

Commenting on the Chancellor's speech to Conservative Party Conference, Mark Littlewood, Director General at the Institute of Economic Affairs said:  “The Chancellor delivered a robust defence of the role of free markets, which should be music to the ears of businesses and taxpayers across the country. It’s now crucial that the Government follow up with ... Continue reading
Markets and Morality

Reaction to the Prime Minister's speech at the Bank of England

Commenting on Theresa May's speech at the Bank of England, Mark Littlewood, Director General at the Institute of Economic Affairs, said: “It is encouraging that the Prime Minister has spoken out in defence of free markets. There can be no doubt that the spread of free market capitalism around the world – particularly in poorer ... Continue reading

Reaction to Jeremy Corbyn's speech

Commenting on Jeremy Corbyn’s speech to Labour Party Conference, Mark Littlewood, Director General at the Institute of Economic Affairs, said: “Jeremy Corbyn’s agenda would be a race to the bottom for the economy, entrepreneurship and living standards in the UK. The rhetoric of his speech – that of state ownership, economic protectionism and rent controls ... Continue reading

Reaction to Shadow Chancellor's conference speech

Commenting on John McDonnell's speech to Labour Party Conference, Mark Littlewood, Director General at the Institute of Economic Affairs, said: “Shadow Chancellor John McDonnell’s speech today shows little understanding of how markets work, let alone how they can help to solve economic and social problems. “Reducing the incentive for responsible lenders to supply credit could ... Continue reading
Government and Institutions

The IEA's Brexit Unit comments on the Prime Minister's Florence Speech

Commenting on the Prime Minister's Florence Speech, Julian Jessop, Chief Economist at the Institute of Economic Affairs, said: “Mrs. May’s upbeat Brexit speech provided some welcome clarity on the UK’s preferred transitional arrangements and puts the ball back firmly in the EU’s court. “The offer to pay the UK's EU contributions until the end of ... Continue reading
Labour Market

IEA reacts to TfL's decision not to renew Uber's license

Commenting on Transport for London's decision to not renew Uber's private hire operator licence, Mark Littlewood, Director General at the Institute of Economic Affairs, said: “Transport for London’s decision to not renew Uber’s license strikes a huge blow to competition and innovation within London’s transport market. If this ruling is upheld, it will ruin flexible ... Continue reading

IEA reacts to Government plans to intervene in university vice chancellors' pay

Commenting on the Government's plans to crack down on university vice-chancellor pay, Len Shackleton, Editorial Research Fellow at the Institute of Economic Affairs, said: "Criticisms of vice-chancellors' pay is unfair and unjustified. Universities are freestanding institutions and should be allowed to set their pay structures as they see fit. They are not reliant on the ... Continue reading
Tax and Fiscal Policy

IEA reacts to Nicola Sturgeon's announcement that she will end the public sector pay cap

Commenting on the First Minister of Scotland's announcement that she will end the public sector pay cap in Scotland, Jamie Whyte, Research Director at the Institute of Economic Affairs, said: "The decision to lift the public sector pay cap in Scotland is misguided and private sector workers – whose pay has actually been worse on average ... Continue reading