PM speech signals yet more state intervention and spending
Annabel Denham appears on Channel 4 News
Annabel Denham writes for The Spectator
Commenting on Boris Johnson’s speech, Mark Littlewood, Director General at free market think tank the Institute of Economic Affairs, said:
“The Prime Minister says he wants a high wage economy. That requires gains in productivity, which we would see if the government started deregulating rather than over-regulating.
“He says he wants a low tax economy, but his government is likely to oversee the highest burden of tax since the Attlee post-war socialist government.
“Unnecessarily restricting the supply of labour may lead to wage increases, but these will be passed on in price increases. A strategy to make things more expensive will not create a genuinely high wage economy, merely the illusion of one.
“Boris Johnson’s rhetoric is always optimistic and enterprising, but insofar as there were actual policies behind it, they seemed to involve yet more state intervention and spending.”
Notes to editors
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You can watch a full recording of the ‘In Conversation’ with Chancellor Rishi Sunak hosted by the IEA and the TaxPayers’ Alliance at Conservative Party Conference here.