Government and Institutions
When Britain leaves the European Union, it will herald the departure of one of the bloc’s major defence spenders, and its keenest opponent of military integration. Almost 25% of current EU military expenditure comes from the UK. Britain has long maintained its preference for NATO, blocking any moves towards an integrated defence force. But could ... Continue reading
My biggest beef with the European Union has always been the way it stifles consumer-friendly innovation in the interests of incumbent businesses and organisations. Yesterday’s victory for Sir James Dyson at the European General Court lays bare an especially shocking example. Dyson’s case, which has taken five years in the courts, reveals just how corrupt ... Continue reading
Trade, Development, and Immigration
Continued from Part 1 here.  One potential growth sector is hotels and leisure. With a growing middle class, and a surge in the demand for air travel, Africa is likely to see a boom in hotels. The Hilton Group has just opened its first hotel in Nigeria for 30 years – the Legend Hotel, part ... Continue reading
Regulation
Why has Nigeria failed to fulfil its huge potential for wealth creation and economic growth? In a recent presentation to policy-makers at the Nigerian Bar Association's Annual Conference, I made the case for diversifying the economy away from oil – concentrating instead on the pivotal tasks of ensuring a stable and adequate power supply; addressing ... Continue reading
Trade, Development, and Immigration
If it were up to me, I would keep freedom of movement after Brexit. Not just for a transition period, but indefinitely. Migration from the European Economic Area (EEA) has been unequivocally beneficial for the UK. The average Eastern European migrant contributes about £1,000 more to the UK’s public finances per annum than the average ... Continue reading
Government and Institutions
In a now-famous essay, “What is Seen and What Is Not Seen”, the great economist Frederic Bastiat warned against judging the value of any activity in a vacuum. Bastiat’s “broken window fallacy” brilliantly exposes a common tendency to focus on the visible, tangible benefits of an action – the “seen” – while neglecting the “unseen” penalties and ... Continue reading
Government and Institutions
I’m still sceptical that the UK’s departure from the EU is a gender issue, despite what high-profile critics like Baroness Kennedy may say. Women might be more vulnerable in some respects, if Brexit is done badly, for example, because they are more likely to have caring responsibilities. Nonetheless, it seems odd to make sweeping statements ... Continue reading
Trade, Development, and Immigration
On Monday, the IEA launched a substantial discussion paper making a set of practical proposals (“Plan A+”) to break the current deadlock in the talks between the UK and the EU. Consistent with our intellectual philosophy and educational purpose, it also made the case for shifting Brexit in a more free-market and outward-looking direction. As ... Continue reading
Government and Institutions
In many ways the EU acts like a customs union when it comes to migration that leads to employment. It is very easy to come to the UK from other EU countries to get a job. Indeed, there are no government-imposed barriers at all. However, if you wish to come from outside the EU to ... Continue reading
Trade, Development, and Immigration
Last month the Secretary of State for International Trade, Liam Fox, launched an ambitious new Export Strategy, with the aim of raising UK exports as a percentage of GDP from 30% to 35%. Most economists would agree that increased openness to trade (both exports and imports) is a ‘good thing’; it allows countries to benefit ... Continue reading