UK economy “well on track” to return to pre-pandemic size, says IEA expert
11 June 2021
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Marc Glendening quoted in the Daily Mail
11 June 2021
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Mark Littlewood quoted in the Daily Express
12 June 2021
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4 July 2024
Commenting on the GDP figures published today by the Office for National Statistics, Julian Jessop, Economics Fellow at free market think tank the Institute of Economic Affairs, said:
“The latest GDP data show that the economy is well on track to return to its pre-pandemic size later this year, which would be much earlier than most had expected.
“With economic growth stronger, unemployment lower, and inflation pressures building, the Bank of England should end its asset purchases sooner rather than later. The Treasury should also focus on limiting any remaining support to the handful of sectors where it is still needed, including hospitality and education, rather than increasing state intervention – and the tax burden – even further.”
ENDS
Notes to Editors
Contact: Emily Carver, Head of Media, 07715941731
IEA spokespeople are available for interview or further comment.
“The latest GDP data show that the economy is well on track to return to its pre-pandemic size later this year, which would be much earlier than most had expected.
“With economic growth stronger, unemployment lower, and inflation pressures building, the Bank of England should end its asset purchases sooner rather than later. The Treasury should also focus on limiting any remaining support to the handful of sectors where it is still needed, including hospitality and education, rather than increasing state intervention – and the tax burden – even further.”
ENDS
Notes to Editors
Contact: Emily Carver, Head of Media, 07715941731
IEA spokespeople are available for interview or further comment.
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