Boris Johnson should look to West Germany, not America, if he wants to revive the economy, says Professor Philip Booth, Senior Academic Fellow at the Institute of Economic Affairs. Writing for CapX, Philip argues Boris Johnson's proposal ‘Rooseveltian’ New Deal for Britain isn't anything of the sort and that the British response to the Great ... Continue reading
Responding to the Prime Minister’s plans for the UK’s economic recovery post Covid-19, IEA Senior Academic Fellow Professor Philip Booth said: “We should be wary of hype about a 'Rooseveltian' New Deal. To begin with, the impact of the original New Deal was not positive. The US had the longest Great Depression of any major ... Continue reading
The economic costs are so great even when set against the lives saved that lockdown may not be worth it, according to an article in The Times citing a report from the Institute for Economic Affairs. It says: "As the government prepares to allow pubs, restaurants and hairdressers to reopen on July 4, Mr Jessop said ... Continue reading
Summary The Covid-19 crisis has provided many grim examples of some familiar problems in health economics and cost-benefit analysis, and of the ‘tragic choices’ that sometimes need to be made. Policymakers frequently have to put a monetary value on a human life when deciding how to use limited resources in the fairest way. This value ... Continue reading
In a wider piece exploring tax reforms that could boost the economy once this crisis has passed, Professor Philip Booth called for the abolition of corporation tax. He writes: "The system is now no longer fit for purpose. It encourages abuse, avoidance and evasion. "Corporation tax should now be abolished. Instead of taxing companies, we ... Continue reading
In response to reports that the Chancellor, Rishi Sunak, is said to be considering a VAT cut followed by tax rises over the longer term, IEA Economics Fellow Julian Jessop told The Daily Telegraph: "It’s hard to imagine a worse combination than a temporary VAT cut to stimulate spending that is likely to happen anyway, ... Continue reading
Professor Philip Booth writes for Conservative Home
Coronavirus is no excuse for surrendering to the Left on economics, writes Professor Philip Booth, IEA Senior Academic Fellow, in Conservative Home. He outlines three myths that are increasingly pervasive in public debate. First, that government debt does not matter. Second, because the economy is in such a state of shock, that the Government must ... Continue reading
Responding to press reports that the Treasury is considering a cut in VAT, IEA Economics Fellow Julian Jessop said: "It's good to hear that the Treasury is thinking of ways to lower the tax burden. A cut in VAT, especially if temporary, might help to kickstart demand by encouraging people to bring forward spending. But ... Continue reading
IEA Director General Mark Littlewood is joined by Steve Baker MP and our Senior Academic Fellow Professor Philip Booth to examine how we finance the government's spending surge. The lockdown has seen economies shrink, pushing governments to borrow at rates never seen in peacetime. What does the future hold for fiscal responsibility? Are we right ... Continue reading
This week the IEA and Civitas published a joint paper, Rebooting Britain, on the economics of the Covid-19 crisis, written by Len Shackleton and myself. Many commentators are arguing that the pandemic has demonstrated the need for permanent increases in government intervention and in public spending. We came to exactly the opposite conclusion. These are ... Continue reading
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