Tax and Fiscal Policy

Paris’ usurpation of London as Europe’s top stock market should warn the Chancellor against tax hikes

Julian Jessop quoted in The Mail

IEA Economics Fellow Julian Jessop has been quoted in The Daily Mail responding to news that Paris has overtaken London as Europe’s largest stock exchange by market capitalisation.

Julian argued that Brexit was not to blame, saying:

“UK equities have underperformed their peers in the rest of Europe for many years. 

“Nonetheless, it would be wrong to blame Brexit given that there are many other factors that influence stock market capitalisation.”

Julian highlighted French President Emmanuel Macron’s pro-business reforms as one of those factors, before lamenting that “unfortunately the UK is about to head in the opposite direction.”

The full article can be read here.