Public sector borrowing figures “not a green light to spend more”, says IEA expert


In the Media

Julian Jessop quoted in The Telegraph

In the Media

Julian Jessop quoted in The Telegraph

Commenting on the public sector net borrowing figures for April published by the Office for National Statistics (ONS), Julian Jessop, Economics Fellow at free market think tank the Institute of Economic Affairs, said:

“Public sector borrowing continues to undershoot the OBR’s forecasts, but it would be wrong to see this as a green light for the government to spend even more.

“The economy is now rebounding strongly as Covid restrictions are lifted but borrowing is also still very high.

“Any further policy stimulus could simply distort the recovery and add to inflationary pressures – as we are already seeing in the US.

“Instead, the UK government should be looking for more ways to roll back the state and allow markets to work properly again.”


Notes to editors

Contact: Emily Carver, Head of Media, 07715942731

IEA spokespeople are available for interview or further comment

Further IEA reading:

UK Debt in Perspective, by Professor Forrest Capie and Professor Geoffrey Wood

Inflation: The next threat? by Dr Juan Castaneda and Professor Tim Congdon