IEA Featured Publications
7 September 2017
SMPC
In its e-mail poll for September - the Shadow Monetary Policy Committee (SMPC) voted by eight votes to one to raise Bank rate. This decision marks the 4th consecutive month that the committee has voted for a rise by this margin. The overwhelming consensus amongst members is that the economy is expanding fast enough to ...
Continue reading
7 September 2017
Kevin Dowd
18 August 2017
Research
'No deal' with EU on trade post Brexit does not mean disaster for the UK
Summary: The primary objective of trade policy should be to promote the interests of UK consumers, not producers. The UK’s best post- Brexit trade policy should therefore be to trade as freely as possible with the rest of the world. Free Trade would bring considerable benefits to the UK. These benefits include lower consumer prices, ...
Continue reading
Kevin Dowd
18 August 2017
Christopher Snowdon & Mark Tovey
7 August 2017
Research
UK will pay almost £25 billion in 'sin taxes' next year
Summary: This discussion paper provides the first estimate of the net effect of smoking on UK taxpayers per annum. Up until now, estimates have used a methodology that typically includes intangible costs, including costs to smokers themselves, while ignoring tangible savings to the state and tax revenues from tobacco duty. We estimate a net saving ...
Continue reading
Christopher Snowdon & Mark Tovey
7 August 2017
31 July 2017
SMPC
SMPC votes eight / one to raise bank rate in August
At a quarterly face-to-face meeting in July, the Shadow Monetary Policy Committee (SMPC) voted by eight votes to one to raise Bank rate. This was the second consecutive vote by the Committee to raise rates by this margin. In a lively and well-attended discussion, the case for a rate rise was made by the majority on ...
Continue reading
31 July 2017
J.R. Shackleton and Jamie Whyte
27 July 2017
Research
Taylor review fails to factor in costs to employees of proposed interventions
Summary: The Taylor Review should be commended for recognising the success of the UK’s flexible labour market and for refusing to endorse the outright bans on zero-hours contracts and app-based “gig” economy advocated by the Labour Party, trade unions and other pressure groups. However, its recommendations for further regulation of these types of work seem ...
Continue reading
J.R. Shackleton and Jamie Whyte
27 July 2017
Dr Kristian Niemietz
4 July 2017
Research
Why the health system needs old-age reserve funds
Summary: Healthcare spending as a proportion of GDP has almost doubled since 1990, from just over 5 per cent to almost 10 per cent now. With differences in timing and magnitude, virtually all developed countries have experienced a similar long-term trend Healthcare costs rise exponentially in old age. Healthcare costs per capita are relatively stable ...
Continue reading
Dr Kristian Niemietz
4 July 2017
26 June 2017
Research
IEA Brexit Unit makes the case that UK divorce bill should not exceed £26 billion
Key Points The UK is leaving the EU and needs to close its accounts. In a divorce, the two sides divide up the assets and liabilities. But the situation here is more like leaving a club, so the question is when the obligation to pay membership fees should end. One option would be simply be ...
Continue reading
26 June 2017
22 June 2017
Economic Affairs
Subscribe to Economic Affairs Contents: Introduction (pages 165–166) by J. R. Shackleton Should there be freedom of dissociation? (pages 167–181) by David S. Oderberg College Readiness: Are California Charter School Students Better Prepared? (pages 182–196) by Kerry A. Adzima The Financing of Investment in Utility Assets (pages 197–212) by Nicos Zafiris Lowering the Marginal Corporate ...
Continue reading
22 June 2017
Len Shackleton
6 June 2017
Research
Political consensus to increase employment regulation risks undermining the economy
Summary: Legal restrictions on the terms and conditions under which employment takes place have a long history in the UK. Since the mid 1960s, however, regulation has substantially increased and now permeates all aspects of work. The costs of this are huge. Just one element relates to the direct burden on firms. For example, the ...
Continue reading
Len Shackleton
6 June 2017
9 May 2017
SMPC
SMPC votes seven / two to raise Bank Rate in May
At its April 2017 face-to-face meeting, the Shadow Monetary Policy Committee (SMPC) voted by seven to two, to raise Bank rate in May. This is the biggest vote for a rise since rates were cut to their historic lows. Of the seven members favouring a raise, four preferred a rise of 1/4% and three a ...
Continue reading
9 May 2017
