UK economic policy in desperate need of revision
14 July 2023
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In the Media
Healthcare
Economic Theory
25 June 2024
Julian Jessop writes for The Daily Express
IEA Economics Fellow, Julian Jessop, has written for The Daily Express discussing Britain’s desperate need for a productivity boost to unlock economic growth after new GDP statistics showed the UK economy contracted in May 2023.
Julian wrote:
“The recovery from the pandemic has ground to a halt. There was no growth at all in the latest three months.
“Without the productivity gains that drive growth, it will be impossible to deliver a sustained increase in wages and living standards. Without the extra tax revenues that growth brings, it will be impossible to meet the increasing demands for better public services.
“Economic policy therefore needs a reboot with a clear plan for growth, based on structural reforms that boost productivity. Among other things, this means fixing our broken planning system, cutting burdensome red tape across the economy, lowering and simplifying taxes, and making sure work pays.”
You can read the full article here.
Julian wrote:
“The recovery from the pandemic has ground to a halt. There was no growth at all in the latest three months.
“Without the productivity gains that drive growth, it will be impossible to deliver a sustained increase in wages and living standards. Without the extra tax revenues that growth brings, it will be impossible to meet the increasing demands for better public services.
“Economic policy therefore needs a reboot with a clear plan for growth, based on structural reforms that boost productivity. Among other things, this means fixing our broken planning system, cutting burdensome red tape across the economy, lowering and simplifying taxes, and making sure work pays.”
You can read the full article here.
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