Spring Statement provides some relief, but probably not for long Opinion The Spring Statement offered some reasonably good news on growth, but the margin for error is incredibly slim and the chances of further painful tax rises in autumn are high, says Julian Jessop Not quite a non-event, but it could have been a lot worse. Rachel Reeves’ Spring Statement is unlikely to do any significant [...]
Rachel Reeves or Liz Truss: Who really ‘crashed the economy’? Opinion Amid UK bond market turmoil, how does Reeves' budget compare to Truss' - and who is really responsible for 'crashing the economy'?
Yes, the UK needs more investment – just not necessarily by government Opinion After all, the public sector isn't always best suited to overseeing large scale investment projects like the disastrous HS2, writes Julian Jessop
Forget the £5bn price tag – a better border could still be a Brexit win May 20, 2024 Claims that Brexit border controls have cost taxpayers £5bn do not amount to a proper cost-benefit analysis, says Julian Jessop The National Audit Office (NAO) has rightly had a go at the government’s handling of the rollout of new import controls after Brexit. But it is still too soon to judge the long-term impact. The [...]
Spring Budget in review: Some sensible moves, a few gimmicks, but mostly a bore March 7, 2024 So, what's the verdict? Some small steps in the right direction, but nothing to move the dial on the economy – or the opinion polls, writes Julian Jessop.
Britain needs to grow up – and have real conversations about the economy February 26, 2024 The UK’s economic problems clearly run deep, and tax cuts alone will not fix them, argues Julian Jessop
Want fairness? Beware the opportunistic calls for a windfall tax on energy giants February 10, 2022 Both the Labour and the Lib Dems have proposed a “one-off” windfall tax on the profits of UK oil and gas companies to help families struggling with their energy bills. Surely it’s only fair that giants like BP and Shell, making bumper profits, should be asked to pay a little more? Not quite. For a [...]
Let the economy reboot itself June 10, 2020 How can the government best support the UK’s economic recovery after the crushing impact of the pandemic? Today, the Institute of Economic Affairs and Civitas are publishing a joint report on the economics of the Covid-19 crisis, written by Professor Len Shackleton and myself. Many are arguing that the crisis has demonstrated the need for [...]
DEBATE: Is now the time for the UK to trial a temporary Universal Basic Income? March 18, 2020 Is now the time for the UK to trial a temporary Universal Basic Income? YES, says Julian Jessop, an economics fellow at the Institute of Economic Affairs. In normal times, cash payments regardless of individual need would be too expensive, poorly targeted, and distortionary. It is therefore right to use existing means-tested benefits (notably universal [...]
DEBATE: Should the chancellor bend the fiscal rules to increase spending in his first Budget? March 10, 2020 Should the chancellor bend the fiscal rules to increase spending in his first Budget? Will Tanner, director of Onward, says YES. It is the prerogative of a twenty-first century chancellor to set the rules of your own tenure. Gordon Brown, George Osborne, Philip Hammond and Sajid Javid (who never delivered a Budget) all established the [...]
