Economics & Social Policy

The Queen’s Speech and Levelling Up: Anyone for Governor of Wessex?

The Bill covers a huge range of policy space, similar to the Levelling Up White Paper tabled in February. In fact, many of the proposals are those put forward in the White Paper. For example, there will be a requirement for the Government to release annual reports on the Levelling Up “missions”, creating a framework to devolve power through ‘devolution deals’ in every part of the country by 2030, and greater local input in planning. The Government will also use the bill to reform how local infrastructure is funded by a new “infrastructure levy” which will give local communities more input in how the money is spent, compared to the existing Section 106 process.

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Policy Exchange

How the Bank of England has failed to control inflation. And what should be done to reform it.

This week sees the Bank of England celebrate 25 years of independence. Quite rightly, the current rise in inflation has raised questions about whether it is time to reassess its remit and governance.

There has been a rise in inflation across western economies. That this is more than a UK issue should not divert attention from where the problem lies.

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Sunak’s task tomorrow. The best way of reducing the deficit is to go for growth

Related Content   Rishi Sunak needs to provide context, actions and vision when he delivers his Spring Statement to the House of Commons this week. Context, so that people can understand the present difficult economic environment and what lies ahead. Actions will be...
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From energy to employment, how Sunak can draw up a blueprint for prosperity

Rishi Sunak could not have guessed what was in store for the economy when he became Chancellor a little over two years ago. One thing is certain now: he could be one of the most consequential chancellors in the post-war period.

Faced with Covid-19 and now a land war in Europe, Sunak now has to deliver a Spring Statement; what was once intended to be a smaller intervention has grown in importance in the face of yet another geopolitical crisis.

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Sanctions on Russia are Unprecedented in Scope and Scale

“We are inflicting devastating economic pain”. That’s how the Foreign Secretary introduced the UK’s sanction package last week.

On Monday this week, the Chairwoman of the Bank of Russia, Elvia Nabiullina – a woman famous for sending coded messages about the economy by her choice of dress and brooch – appeared in full black to announce a more than doubling of the interest rate, from 9.5 percent to 20 percent.

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The Chancellor is still being inspired by Paul Romer, his Stanford Professor – Good

Rishi Sunak’s Mais Lecture last week was filled with references to all the people one might expect from a Conservative Chancellor. From Adam Smith to Thatcher, it was a who’s who of free-market luminaries.

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Latest Economics & Social Policy Publications

The case for shareholder-based capitalism

The case for shareholder-based capitalism

The purpose of this paper is to examine whether these criticisms of the capitalist system are valid, and whether the proposed reforms are desirable.   

The paper looks first at the historical background, showing how the doctrine of shareholder primacy came to the fore in the US and the UK in the 1980s and 1990s, and how that doctrine has come to be challenged by supporters of stakeholder capitalism. A debate is now in progress, on both sides of the Atlantic, pitting defenders of shareholder primacy against a range of pro-stakeholder advocates.  

The paper discusses three of the central issues in this debate: what the purpose of companies should be; short-termism; and inequality.

A Central Question

A Central Question

Central banks face a range of questions, some of which relate to their actions during the Covid crisis and the dislocation of economies as a result of the pandemic, some reflect the continuing challenges of unexpectedly low inflation, interest rates and growth over the last decade and some arise directly out of their own policy actions, such as their loose monetary policy and Quantitative Easing.

Latest Economics & Social Policy Blogs

The Queen’s Speech and Levelling Up: Anyone for Governor of Wessex?

The Queen’s Speech and Levelling Up: Anyone for Governor of Wessex?

The Bill covers a huge range of policy space, similar to the Levelling Up White Paper tabled in February. In fact, many of the proposals are those put forward in the White Paper. For example, there will be a requirement for the Government to release annual reports on the Levelling Up “missions”, creating a framework to devolve power through ‘devolution deals’ in every part of the country by 2030, and greater local input in planning. The Government will also use the bill to reform how local infrastructure is funded by a new “infrastructure levy” which will give local communities more input in how the money is spent, compared to the existing Section 106 process.

Latest Economics & Social Policy News

Latest Economics & Social Policy Events

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  • Wednesday, 26 June, 2019
    14:00 - 15:00

For more than 20 years, the funding of long-term social care has been recognised as a central challenge by successive governments. Arguments around it played a contentious part in the Conservative Party’s election campaign in 2017 – with the proposed solution earning the sobriquet “the Dementia Tax”. The difficulty that the present Government has had in mapping a practical way forward is reflected in the failure to publish the promised green paper. But Policy Exchange’s paper, 21st Century Social Care, provides an answer, arguing that the state should fund long-term social care and complete the welfare state, which polling shows has massive support.

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  • Wednesday, 12 June, 2019
    18:00 - 19:00

Josh Frydenberg was elected to the Australian Parliament in 2010 as the Member for Kooyong. He is the seventh person since Federation to hold this seat. In August 2018, he was appointed Treasurer of Australia and Deputy Leader of the Liberal Party, having previously served as Minister for the Environment and Energy, Minister for Resources, Energy and Northern Australia, Assistant Treasurer – and Parliamentary Secretary to the Prime Minister since the 2013 election.

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  • Monday, 26 November, 2018
    18:00 - 19:30

Policy Exchange is… multidisciplinary, highly influential, a productive force in the heart of Westminster and our political system,” said Mark Carney, Governor of the Bank of England, at a Policy Exchange event with Alan Greenspan, former Chairman of the Federal Reserve, and Adrian Wooldridge, The Economist’s Bagehot columnist, to launch their new book, Capitalism in America.

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  • Monday, 23 July, 2018
    17:00 - 18:30

Marking the launch of a new paper, Policy Exchange invites you to a panel discussion on “Is Britain’s Growth Model Broken – and Can Brexit Help to Fix It?” The paper’s author Dr Christopher Bickerton will introduce his research, followed by a panel discussion including the former Permanent Secretary to the Treasury Lord Macpherson of Earl’s Court.

Venue:  

Address:
Policy Exchange, 1 Old Queen Street, Westminster, London, SW1H 9AJ, United Kingdom

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  • Monday, 2 July, 2018
    18:00 - 19:30

Adam Smith is now widely regarded as ‘the father of modern economics’ and the most influential economist who ever lived. But what he really thought, and what the implications of his ideas are, remain fiercely contested. Jesse Norman MP’s book shows how, far from being a doctrinaire ‘libertarian’ or ‘neoliberal’ thinker, Smith offers an evolutionary theory of political economy, which balances the roles of markets and the state.

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  • Thursday, 28 June, 2018
    13:00 - 14:30

Secretary of State for International Development Rt Hon Penny Mordaunt MP and Brigadier John Deverell spoke on the strategic role of soft power, outlining how her vision for the future of UK development policy applies in the context of civilian–military cooperation, the interplay between hard and soft power, and the importance of development’s role alongside defence and diplomacy.

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  • Monday, 21 May, 2018
    8:30 - 15:45

Policy Exchange hosted a major conference considering the future of the Union, with keynote speeches from Ruth Davidson, Michael Gove, Arlene Foster, Brandon Lewis, Alistair Darling, Jim Murphy and Theresa Villiers. In bringing together speakers from different parties, different nations and opposite sides of the Brexit debate, we demonstrated that unionism can be the bridge between the different elements in our divided society.

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