The UK economy is in a doom loop
21 February 2023
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In the Media
In the Media
Julian Jessop quoted in The Express and The Mail
22 February 2023
Housing and Planning
Commenting on the latest ONS public sector finances data, Julian Jessop, Economics Fellow at free market think tank the Institute of Economic Affairs, said:
“The UK is in a doom loop of a rising tax burden, a weaker economy and deteriorating public finances. These latest stats will only encourage the OBR and the government to double down on this doom loop by drawing the wrong conclusions from dubious data.
“If the Treasury takes the OBR’s grim forecast for economic growth as gospel and refuses to cut taxes, the doom loop will continue.”
ENDS
Contact: jdinnage@iea.org.uk/07413 016026
IEA spokespeople are available for interview and further comment.
“The UK is in a doom loop of a rising tax burden, a weaker economy and deteriorating public finances. These latest stats will only encourage the OBR and the government to double down on this doom loop by drawing the wrong conclusions from dubious data.
“If the Treasury takes the OBR’s grim forecast for economic growth as gospel and refuses to cut taxes, the doom loop will continue.”
ENDS
Contact: jdinnage@iea.org.uk/07413 016026
IEA spokespeople are available for interview and further comment.
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