Prime Minister’s priorities lack ambition
3 July 2023
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Julian Jessop writes in The Express
IEA Economics Fellow Julian Jessop has written for The Daily Express arguing that while Rishi Sunak is likely to meet his five core promises in areas like inflation and economic growth, that will only be because his initial promises lacked ambition.
Julian wrote:
“In January, the PM set five priorities for 2023, including three pledges on the economy.
“The first was to “halve inflation this year to ease the cost of living and give people financial security”. This is still achievable.
“In May, the Bank of England forecast inflation would fall to around five percent by the end of the year, roughly half last December’s rate of 10.5 percent.
“But interest rates may also need to be raised further to get inflation down, so this may not be enough to ‘give people financial security’.
“In short, the economic pledges may be met but their lack of ambition means any upside for the Government will be limited.”
Read Julian’s full piece here.
Julian wrote:
“In January, the PM set five priorities for 2023, including three pledges on the economy.
“The first was to “halve inflation this year to ease the cost of living and give people financial security”. This is still achievable.
“In May, the Bank of England forecast inflation would fall to around five percent by the end of the year, roughly half last December’s rate of 10.5 percent.
“But interest rates may also need to be raised further to get inflation down, so this may not be enough to ‘give people financial security’.
“In short, the economic pledges may be met but their lack of ambition means any upside for the Government will be limited.”
Read Julian’s full piece here.
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