The Republican speaker of the House of Representatives, Paul Ryan, described last week’s decision to pull a bill replacing Barack Obama’s signature healthcare legislation as a short-term problem. The bill had had strong support from new President Donald Trump. “Doing big things is hard,” Ryan said. “Moving from an opposition party to a governing party ... Continue reading

Mark Littlewood appears on the Daily Politics Show

Mark Littlewood, Director General at the Institute of Economic Affairs has appeared on the Daily Politics to discuss the government's HS2 project and whether or not it is worth taxpayers' money. In the interview Mark highlights that the IEA estimates the cost of the HS2 project to the taxpayer will be in the region of ... Continue reading

Dr Richard Wellings is quoted in The Economist

There has long been a joke in political circles that Britain’s Department for Transport never produces any cheerful headlines. Its press office has in the past been caught using royal funerals and terrorist attacks to “bury bad news”. But its problems mostly stem from Britain’s rail network, the oldest in the world, which is increasingly crowded ... Continue reading
Government and Institutions
To many people’s relief, there were not many big ideas in Philip Hammond’s Autumn Statement last month. In so far as there was anything new, it was the widely-trailed extra investment in innovation, infrastructure and housing. The justification for spending money on these things is that it will raise productivity and growth. There is no ... Continue reading

IEA reacts to the announcements on overhauling England's rail network

Commenting on the Transport Secretary’s announcements on overhauling England’s rail network, Dr Richard Wellings, Head of Transport at the Institute of Economic Affairs, said: “The Transport Secretary’s announcements today go in the right general direction, but are not radical enough. Chris Grayling has correctly analysed why our rail networks are inadequate, and whilst he is ... Continue reading

Dr Richard Wellings comments on the front page of the Daily Mail

Dr Richard Wellings, Head of Transport at the Institute of Economic Affairs has commented on the front page of the Daily Mail today on the proposals from Nice to reduce speed limits. In the article Richard argues that reducing speed limits and imposing new vehicle regulations would impose huge additional costs on drivers and businesses. ... Continue reading

IEA report features in The Telegraph

An IEA report on the taxi market and how it is regulated has featured in The Telegraph today. The article cites the report's proposals for a bonfire of regulations and restrictions in the taxi market to increase their number on the roads and slash fares for passengers. Read the full article here. (£)... Continue reading

Dr Richard Wellings appears on BBC Radio 5 Live

Dr Richard Wellings, Head of Transport at the Institute of Economic Affairs has appeared on BBC Radio 5 Live to discuss the government's proposals for a new road building programme. In the interview Richard argues that it is difficult to know how quickly this investment will take to plan, implement and make a difference. Major ... Continue reading
Economic Theory
Economic theory suggests that derestricting and deregulating the taxi trade would produce substantial welfare gains. The empirical evidence broadly bears this out. There is a wide range of economic studies on the effects of taxi market deregulation on variables such as waiting times, fares, safety and quality. A comprehensive review of the economic literature is ... Continue reading
To a man with a hammer, everything looks like a nail. Or when it comes to the UK economy: to an economist who believed in fiscal stimulus in 2011, every period of time looks like an opportunity for more government spending. In the aftermath of Donald Trump’s victory last week, even his most vociferous left-leaning ... Continue reading