Tax and Fiscal Policy

IEA quoted as Newsweek asks how bad the coming recession may be

Julian Jessop quoted by NewsWeek

IEA Economics Fellow Julian Jessop was quoted by Newsweek is a piece which examined the economic impact of the coronavirus pandemic and how it may compare to previous recessions.

“The objective is that we actually want a recession because we want people to stop what they would normally do. We need to accept the economy is going to contract sharply, we need to accept that it is going to happen. It is what we want given that we want social distancing to limit the loss of life,” IEA economics fellow Julian Jessop told Newsweek.

Julian added: “What this is about instead is putting economies into hibernation and as and when the health measures are over, economic activity can return to normal.”

Read the full article here.