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23 December 2014
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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.”
To arrange an interview please contact Camilla Goodwin, Communications Officer: 07821 971 443
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.
“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.”
To arrange an interview please contact Camilla Goodwin, Communications Officer: 07821 971 443
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.
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