Ever-expanding Green Belt must be tackled to solve the UK's housing crisis, says new report

● The planning system has become too complex and the revisions to the National Planning Policy Framework risk exacerbating the situation. The principle of a clear general presumption in favour of sustainable development that has equal weight to other considerations, including the Development Plan, must be reintroduced. ● The Planning Inspectorate appears to be under ... Continue reading

No-Deal Fear-Checker, No. 9

The UK imports 30% of its food from the EU, an amount that will be at its peak in March due to the low availability of domestic fresh produce at that time. Much of it comes through the Calais to Dover ferry route or the Eurotunnel. As it stands, if we leave the EU without ... Continue reading

UK should scrap net migration target & introduce two-lane immigration system post-Brexit, says new report

Summary:  Opinion surveys consistently show that the British public is overwhelmingly hostile to immigration. This widespread hostility actively shapes our immigration policies in many ways. Although those policies are often demonstrably economically damaging, economic liberals tend to treat the topic as a lost cause. However, if we dig a little deeper into the polling data, ... Continue reading

A critical assessment of UK monetary indicators

Summary:  The Monetary Policy Committee of the Bank of England’s reliance on faulty indicators has led to suboptimal policy decisions and masked what is actually happening in the economy. The introduction of quantitative easing (QE) in 2009 has made the money supply relevant again and made a discussion about alternative money supply measures of direct ... Continue reading

SMPC votes Six / Three to Hold Bank Rate in December

In its December 2018 e-mail poll, the Shadow Monetary Policy Committee (SMPC) elected, by a vote of six to three, to hold rates in December. The three favoured a 0.25% rise. Advocates of holding rates noted that broad money growth continues relatively weak, with some saying that the Bank should consider re-starting quantitative easing if ... Continue reading

No-Deal Fear Checker, No 8

According to the latest Whitehall analysis, the UK economy could be between 6.3% and 10.7% smaller in a no-deal scenario, compared to remaining in the EU. These figures refer to the level of GDP around 15 years after the UK’s new relationship with the EU comes into effect. Another study by the Bank of England ... Continue reading

Trade sanctions rarely work & create substantial costs for the world economy, says new IEA report

Summary: During the twentieth century, economic sanctions became more prevalent. In the twenty-first century they have become a frequently used tool for governments seeking to change the behaviour of other countries.  An extensive research literature exists on the effectiveness of sanctions. Overall the research shows that sanctions very rarely achieve foreign policy goals. At the ... Continue reading

Chaos at UK ports would wreck supply chains

It is often claimed that a no-deal Brexit would cause chaos at UK ports, with long delays at critical bottlenecks such as Dover, and motorways turned into vast lorry parks. This would be especially damaging for businesses that rely on complicated cross-border supply chains, notably in high-value manufacturing, or which are otherwise particularly time-sensitive, such ... Continue reading

IEA's International Trade and Competition Unit releases briefing on the Backstop

Summary:  The provisions of the Protocol deliver what has become known as the ‘backstop’ for the Irish border. They come into effect if no other agreement that addresses the issues in connection with the Irish border has been reached by the end of the Transition Period on 31 December 2020, or any extension of that ... Continue reading
Summary UK and EU officials have agreed the text of a draft Withdrawal Agreement and an outline of a ‘political declaration’ on the future UK-EU relationship. The transition period anticipated in the Withdrawal Agreement will effectively keep the UK in the Customs Union and the Single Market until the end of 2020, with all ‘four ... Continue reading