Skip to content
Institute of Economic Affairs

Institute of Economic Affairs

Institute of Economic Affairs

Sunday May 22, 2022
  • twitter
  • facebook
  • rss
  • Institute of Economic Affairs
  • Home
  • About
  • Staff
  • Jobs
  • Epicenter
  • Contact Us
  • twitter
  • facebook
  • rss
  • Blog
  • Film
  • Coronavirus
  • Research
    • Publications
    • Economic Affairs
    • EA Magazine
    • Brexit Unit
    • Int. Trade & Competition Unit
    • SMPC
    • Paragon Initiative
  • Media
    • Media Coverage
    • Press Releases
    • Media Enquiries
    • About IEA Comms
  • Students
    • Internships
    • Events and Conferences
    • Essay Competition
    • Student Resources
    • IEA Budget Challenge
    • Economics101
  • Events
    • Forthcoming Events
    • Past Events
  • Donate
    • Donate Now
    • Donate Monthly
    • IEA Patreon
    • Other Ways to Donate
    • Legacy Gift
    • Donate from USA
    • Contact Us
  • Home
  • About
  • Staff
  • Jobs
  • Epicenter
  • Contact Us

Plan B could cost £4bn per month, warns economist

8 December 2021
Institute of Economic Affairs > Media posts > Media > Press Release


Julian Jessop, Economics Fellow at free market think tank the Institute of Economic Affairs, said:

“Even without a full national lockdown, the additional Covid restrictions apparently being considered in Whitehall could easily knock 2 per cent off GDP – costing the UK economy £4 billion a month – and force the taxpayer to stump up billions more to prevent a new wave of bankruptcies and job losses.

“This is on top of all the social costs and harms to people’s wellbeing and liberties, as well as the risk of further disruption to children’s education.

“Some will argue that this would be a fair price to pay to clamp down on Omicron. However, this would require much stronger evidence that the new variant is more deadly, not just more transmissible.


“This is a particularly high bar to clear in the UK, where most experts agree that the population has now acquired a high degree of immunity due to past infections and from the vaccine booster programme.”

ENDS

Notes to editors

Contact: Emily Carver, Head of Media, 07715 942 731

IEA spokespeople are available for interview and further comment.

SIGN UP FOR IEA EMAILS

Share this Story

previousMedia CoverageAs liberals, we must condemn the draconian Covid restrictions sweeping Europe8 December 2021
nextPress ReleaseNew Zealand's ban on tobacco sales will lead to "criminality and corruption", warns IEA expert9 December 2021
latestPress ReleaseNHS privatisation paranoia damages nation's health, finds new report22 May 2022
previous
Media Coverage

As liberals, we must condemn the draconian Covid restrictions sweeping Europe

Emily Carver writes for Conservative Home

8 December 2021
next
Press Release

New Zealand's ban on tobacco sales will lead to "criminality and corruption", warns IEA expert

8 December 2021
latest
Press Release

NHS privatisation paranoia damages nation's health, finds new report

8 December 2021
Institute of Economic Affairs
BE PART OF THE IEA TODAY
  • Donate
  • Like
  • Follow
  • Watch

NEWSLETTER SIGN UP

Privacy Policy
© Institute of Economic Affairs
REGISTERED IN ENGLAND 755502, CHARITY NO. CC/235 351, LIMITED BY GUARANTEE
×
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies. However you may visit Cookie Settings to provide a controlled consent.
Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled

Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.

Advertisement

Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.

Performance

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

Analytics

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.

Functional

Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.

Uncategorized

Undefined cookies are those that are being analyzed and have not been classified into a category as yet.

Save & Accept
Powered by CookieYes