FOR IMMEDIATE RELEASE £50,000 IEA BREAKTHROUGH PRIZE AWARDED TO ENTRY CALLING FOR A PEOPLE'S TAX REBATE Timothy Foxley, a 26-year-old strategic communications consultant from Stoke-on-Trent, has been announced as the winner of the £50,000 Breakthrough Prize. The prize – run by the Institute of Economic Affairs and supported by entrepreneur and author Richard Koch – sought to find the ... Continue reading
Commenting on the government borrowing figures for June published by the Office for National Statistics, Julian Jessop, Economics Fellow at free market think tank the Institute of Economic Affairs, said: "Government borrowing is continuing to come in below the OBR’s pessimistic forecasts, helped by stronger economic growth. This relative improvement may only be temporary and ... Continue reading
Commenting on the planned increase in National Insurance, Professor Len Shackleton, Editorial and Research Fellow at free market think tank the Institute of Economic Affairs, said: "Hiking National Insurance will be yet another burden on working age people at a time when jobs are insecure, inflation is rising and wages are squeezed. "Much of the ... Continue reading
Responding to reports that 520,000 people were told to quarantine by the NHS app last week, Julian Jessop, Economics Fellow at free market think tank the Institute of Economic Affairs, said: "The economic hit from the ‘pingdemic’ is unlikely to be large; for example, 500,000 people is less than 2 per cent of the total ... Continue reading
Responding to the latest Office for National Statistics (ONS) figures on the UK labour market, Julian Jessop, Economics Fellow at free market think tank the Institute of Economic Affairs, said: "The latest ONS data on the labour market are encouraging and reinforce the positive messages from business and consumer surveys. In particular, the economy is ... Continue reading
Commenting on the National Food Strategy report by Henry Dimbleby, which calls for a Sugar and Salt Reformulation Tax, Christopher Snowdon, Head of Lifestyle Economics at free market think tank the Institute of Economic Affairs, said: “Once again, rich people want to clobber ordinary people with stealth taxes, this time on sugar and salt. By ... Continue reading
Commenting on the ONS Consumer Price Index figures for June, Julian Jessop, Economics Fellow at free market think tank the Institute of Economic Affairs, said: "The jump in inflation to 2.5 per cent in June is yet another warning to the Bank of England that policy is now too loose. The Monetary Policy Committee has ... Continue reading
Trade, Development, and Immigration
As the Office for National Statistics releases trade data for May 2021, research from the Institute of Economic Affairs debunks 10 bad arguments against unilateral free trade The economic benefits of free trade come mainly from what countries import, rather than from what they sell overseas; Arguments against tariff-free trade usually boil down to saying that British families ... Continue reading
Commenting on the 0.8 per cent GDP increase in May, Julian Jessop, Economics Fellow at free market think tank the Institute of Economic Affairs, said: "The 0.8 per cent increase in GDP in May was slightly disappointing and means that the UK economy was still 3.1 per cent smaller than the pre-Covid level seen in ... Continue reading
Particularly over the last year when education, career progress and social lives have been severely disrupted, it's hard to shake the feeling that the young are getting a raw deal, writes IEA Director of Communications Annabel Denham. In an article for The Telegraph, Annabel argues that scrapping the triple lock would be a politically savvy ... Continue reading