Tax and Fiscal Policy

Cut taxes to end UK’s economic ‘doom-loop’


In the Media

Harrison Griffiths writes for City AM

Julian Jessop quoted in The Express and The Mail

IEA Economics Fellow Julian Jessop has been quoted in The Daily Express and The Daily Mail responding to the public sector finance statistics for January 2023, which revealed that the government ran a slight surplus, despite gloomy OBR projections.

In The Mail, Julian argued that the figures gave the government “a little
more room for tax cuts and targeted spending increases.”

In The Express, he warned that the UK was in a “doom loop of a rising tax burden, a weaker economy and deteriorating public finances.”

He added:

“If the Treasury takes the OBR’s grim forecast for economic growth as gospel and refuses to cut taxes, the doom loop will continue.

“For me the question is which taxes should we be cutting and why – not whether or not we should be.”

The full Express article can be read here and the Mail article here.