The focus of economic policy is starting to shift from protecting businesses, jobs and incomes during the lockdown towards supporting the recovery. Business lobbies, ‘big state’ think tanks, academics and the TUC are all lining up to call for a huge fiscal stimulus. However, more intervention now could be exactly the wrong choice. Instead, we … Continue reading The economy could pleasantly surprise us at how fast it recovers
Author: julianhjessop
We can’t go on like this
The economic data for April were bound to be awful and those for the public finances were no exception. Government borrowing last month alone (a record £62.1 billion) was almost as large as the deficit in the whole of last year (£62.7 billion). This included £14 billion for the first full month of the coronavirus … Continue reading We can’t go on like this
No, Observer: ‘free-market think-tanks’ haven’t changed their tune
This Sunday the Observer ran a frontpage story headlined ‘rightwing thinktanks call time on austerity era’. I was quoted in the article, wearing my IEA hat, as were representatives of the Adam Smith Institute, Centre for Policy Studies and Policy Exchange. As it happens, I am happy with the specific comments attributed to me, which … Continue reading No, Observer: ‘free-market think-tanks’ haven’t changed their tune
No need for ‘austerity’ – as long as lockdown doesn’t last much longer
The media has been dominated this week by scary headlines about the ‘mother of all recessions’, ballooning government borrowing, and the prospect of renewed ‘austerity', whether in the form of public spending cuts or punishing tax increases. As usual, a sense of context and perspective is sorely needed. Let’s deal first with the numbers released … Continue reading No need for ‘austerity’ – as long as lockdown doesn’t last much longer
