Monetary Policy

Mark Littlewood writes for The Times

In his bi-weekly column for The Times, IEA Director General Mark Littlewood warned that the era of low-inflation was coming to an end, referencing the 'sheer scale' of money production during the last year. Mark argued: "The entire UK quantitative easing programme has so far amounted to £872 billion, more than half of this money ... Continue reading
Monetary Policy

Christopher Snowdon quoted in The Sun

IEA Head of Lifestyle Economics Christopher Snowdon was quoted in The Sun, commenting on the latest figures which suggest a sharp rise in inflation. Christopher warned "We have all the ingredients for a bout of inflation", adding: "The only question is whether it will be short and sharp or if it will become a chronic ... Continue reading
Responding to today's inflation figures from the Office for National Statistics (ONS), Christopher Snowdon, Head of Lifestyle Economics at free market think tank the Institute of Economic Affairs, said: “While the inflation rate is still low, a sharp rise in one month is concerning and is unlikely to be a one off. As the economy ... Continue reading
Although the response of the major economies to the Covid-19 pandemic falls short of adopting Modern Monetary Theory (MMT) policies entirely, there has been a shift towards MMT principles. Since March 2020, central banks in major economies have been partially monetising government deficits by buying government debt through quantitative easing and other lending schemes. In ... Continue reading

Financial Times letter to the editor: Shadow Monetary Policy Committee

The Shadow Monetary Policy Committee has written a letter to the editor of the Financial Times, expressing their concern at the quantity of money in the UK economy- warning the Bank of England about the risks of increasing inflation. The Committee wrote: "We fear that inflation above 5 per cent is likely at some point ... Continue reading
Responding to the latest government borrowing figures published by the Office for National Statistics (ONS), Christopher Snowdon, Head of Lifestyle Economics at the free market think tank the Institute of Economic Affairs, said:  “The national debt is enormous and will continue to grow for the foreseeable future. The scale of borrowing dwarfs that of the 2008 ... Continue reading
Monetary Policy

Julian Jessop analysis quoted by Bloomberg

In a Bloomberg article warning that the UK economy is heading towards a double dip recession, analysis by IEA Economics Fellow Julian Jessop was included suggesting the lockdown could cost the economy £18 billion a month- the equivalent of 18% of gross domestic product. Read the full article here.... Continue reading
Monetary Policy

Julian Jessop featured in The Sun

Responding to the news of another national lockdown, the IEA's Economics Fellow Julian Jessop calculated the potential cost of the measures on the UK economy. His analysis, predicting a 'six-week lockdown would cost the UK economy a whopping £27 billion', was featured in The Sun. Read the full article here.... Continue reading

IEA research cited in The Times

In a column for The Times by economics editor of The Sunday Times, David Smith cites IEA research estimating that the black economy amounts to between 9 and 12 percent of GDP, or roughly £200bn. This, David argues, accounts for much of the reported £50 billion of "missing" banknotes. Read the full article here.... Continue reading