National insurance doesn’t deserve its dishonest name nor the money of the poorest Madsen Pirie National Insurance is misnamed. It is not an insurance, nor is it hypothecated for any specific welfare benefits. It is a tax, the proceeds of which go into the general revenues that finance government expenditure. At its outset in 1911 it was regarded as insurance against sickness and unemployment, and even when enlarged in 1948, [...]
As Trump prepares to dump the TPP Pacific free trade deal, is globalisation going into reverse? Dr Madsen Pirie, founder and president of the Adam Smith Institute, says Yes. It looks very much as if globalisation has reached its high water mark and may be slipping back. Donald Trump's pledge to pull out of the Trans-Pacific Partnership deal comes hot on the heels of the declaration by many involved that the [...]
What is the worst policy to come out of the Labour party conference so far? Dan Lewis, senior infrastructure policy adviser to the Institute of Directors, says the ban on fracking. Fracking has been transformative for the United States, leading to reshoring of manufacturing, bringing down energy prices, reducing emissions, creating jobs and raising taxes. No serious US politician seeking power wants to reverse that. And in this country, it will [...]
