Monetary Policy

Andrew Lilico calls for spending cuts on Radio 4’s Today Programme


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Dr Richard Wellings writes for Liberal Democrat Voice

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SMPC member argues UK's huge budget deficit threatens recovery

Andrew Lilico, a member of the IEA’s Shadow Monetary Policy Committee and Chief Economist at Policy Exchange, has appeared on Radio 4’s Today Programme to discuss the fiscal crisis.

Lilico argued that bond markets could lose confidence in the British government – putting upward pressure on interest rates – unless urgent action was taken to tackle the UK’s huge budget deficit by cutting public spending. He added that raising taxes on the rich would not raise sufficient revenue to bring the deficit down to a sustainable level.

To listen to Andrew’s interview click here. His segment is at 08:48 on Tuesday 15 December.