Responding to warnings from the Bank of England that the UK economy will shrink by as much as 14 percent this year, with the coronavirus pandemic pushing the country to its deepest recession on record, IEA Economics Fellow Julian Jessop urged the Government to “step aside” in an effort to enable the economy to begin its recovery, allowing markets and businesses to function as they were before.

Quoted by the Express, Julian argued that the Government “should avoid saddling employers with additional costs and regulations, phase out costly state subsidies that distort incentives (including the job retention scheme), and return public spending to more sustainable levels.”

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