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This is a remission not a recovery
Commenting on the latest GDP figures, Mark Littlewood, Director General at the Institute of Economic Affairs, said:
“This is a remission, not a recovery. Despite positive appearances, today’s figures are not only long overdue, but based on flimsy foundations. The reality is that we are stuck in a quagmire of low productivity and stagnant living standards.
“Without genuine supply-side reform we are in danger of unspectacular growth becoming the new normal. Regulation, archaic planning laws and high marginal tax rates are strangling our economy’s potential. We need long-term structural reform that boosts enterprise and encourages working, producing, saving and investing.”
Notes to editors:
To arrange an interview with an IEA spokesperson, please contact Stephanie Lis, Communications Officer on 020 7799 8909 or 07766 221 268.
ONS growth statistics can be found here.
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.
“This is a remission, not a recovery. Despite positive appearances, today’s figures are not only long overdue, but based on flimsy foundations. The reality is that we are stuck in a quagmire of low productivity and stagnant living standards.
“Without genuine supply-side reform we are in danger of unspectacular growth becoming the new normal. Regulation, archaic planning laws and high marginal tax rates are strangling our economy’s potential. We need long-term structural reform that boosts enterprise and encourages working, producing, saving and investing.”
Notes to editors:
To arrange an interview with an IEA spokesperson, please contact Stephanie Lis, Communications Officer on 020 7799 8909 or 07766 221 268.
ONS growth statistics can be found here.
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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