The EU’s vaccine failures will leave a toxic legacy

This week it has been reported that the pharmaceutical giant AstraZeneca is ‘exploring options’ for its COVID-19 vaccine business, including a sale. This is not entirely surprising. The company has not traditionally focused on vaccines and its vital contribution to the fight against the coronavirus may never make a profit. However, AstraZeneca’s experience still reflects … Continue reading The EU’s vaccine failures will leave a toxic legacy

Brexit Britain’s resilient services sector is proving the gloomsters wrong

Many people raised concerns about the patchy coverage of services in the Brexit deal negotiated between the UK and EU, known as the Trade and Cooperation Agreement (TCA). The gaps have already caused some significant problems, especially for smaller firms. In principle, the TCA offered extensive market access for UK services businesses, including the mutual … Continue reading Brexit Britain’s resilient services sector is proving the gloomsters wrong

State aid remains a slippery slope

The Government is delivering on another Brexit pledge. Kwasi Kwarteng’s Department for Business, Energy and Industrial Strategy has unveiled a new subsidy framework which takes back control from Brussels. The UK will break free from the EU’s bureaucratic state aid regime, allowing our government to provide quicker and more flexible support to UK businesses. That, at … Continue reading State aid remains a slippery slope

Importing is “GREAT”, too

The UK government promotes international trade under the banner ‘Exporting is GREAT’. This is laudable, but the economic benefits of free trade come mainly from what countries import, rather than from what they sell overseas. This is the main message from a paper I wrote recently for the Institute of Economic Affairs. Of course, it is not … Continue reading Importing is “GREAT”, too