Deregulation and tax cuts are crucial to boost prosperity


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Philip Booth comments on the revised figures for economic growth in the UK

Commenting on the announcement that economic growth in the UK has been revised down to 2.6%, Professor Philip Booth, Editorial and Programme Director at the IEA said:

“The downward revision to national income figures demonstrates the importance of redoubling efforts to reduce government spending and regulation.

“During its post-crisis phase, terrible productivity performance has been a key feature of the UK economy. More radical deregulation of planning; an end to the ratcheting up of regulation on the financial sector; and considerable tax cuts, financed by reductions in government spending, are essential if the economy is going to begin growing at rates which will facilitate increased prosperity for all.”

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Notes to editors:

The mission of the Institute of Economic Affairs is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems.

The IEA is a registered educational charity and independent of all political parties.