Latest ONS figures show need to keep cutting spending
New research from the IEA looks at statutory regulation, private regulation and financial markets
Prof Philip Booth comments on the Economic Freedom of the World: 2010 Annual Report
Mark Littlewood comments on the latest growth figures
“The latest ONS figures showing growth of 1.2% reveal the absurdity of arguing cuts will trigger a double dip recession. Although the road to recovery will be a rocky one, the overall trend will be better the more strident the action the government takes on cutting public spending.
“Economic growth depends on restoring confidence in the British economy and this requires reducing our national debt significantly. Investors need to know that Britain is serious about re-balancing the books.
“Encouraging people off welfare, moving public servants into the private sector, creating a competitive tax environment, improving the quality of education by changing the funding and governance model, cutting from all departments without ring-fencing and alleviating the burden on the private sector from red tape and restrictive labour laws is the way to ensure we see more positive growth figures.”
Notes to Editors
To arrange an interview with Mark Littlewood, IEA Director General, please contact Stephanie Lis, Communications Manager, 077 5171 7781, 020 7799 8900, [email protected].