Tax and Fiscal Policy

UK recession underscores need for economic reform


In the Media

Julian Jessop writes for The Express


Julian Jessop quoted in Scottish Financial Review

Julian Jessop featured in The Express

IEA Economics Fellow Julian Jessop has been featured in The Daily Express discussing some of the policy changes that could get the economy back on track. This comes after news that the UK economy entered recession in 2023.

Julian said:

“The Chancellor needs to be careful here. There is already some additional stimulus from the National Insurance contributions cut in January and from the increases in pensions, benefits and the national minimum wage in April.

“The key driver of the slump into recession is the increase in interest rates. It is important that the Chancellor avoids doing anything that might reignite inflation and encourage the Bank to keep rates higher for longer.

“But there is room for some well-targeted tax cuts.”

Read the full article here.

Julian’s comments were also referenced in The Scotsman, Investment International, and MSN.