Economics & Social Policy
Latest Economics & Social Policy Publications
The Government has outlined an audacious package of measures aimed protecting as much of the UK’s productive potential as possible. But it is an outlier among comparable European economies in that it is yet to announce measures to help start-ups and pre-revenue firms. Jan Zeber and Dr Gerard Lyons outline the unique challenges faced by those firms and what can be done to support them.
The government has outlined an audacious package of measures aimed at dealing with the economic consequences of COVID-19, but in a fast- moving environment, it should be no surprise that policy has to continue to evolve. There have already been four fiscal packages in recent weeks, beginning with the Budget, then one focused on the corporate sector, the next on employees and last week’s targeting the self-employed. This has been supported by monetary policy. Despite this, further action is needed supported by another fiscal boost and further monetary action. It is not only the scale of the stimulus that needs to increase, but the execution of the policies. Also, the policy reaction on job protection has been impressively large, but the lack of any precedent means we cannot be certain how the measures will work.
On Thursday, the Chancellor unveiled his fourth round of policy measures to boost the economy during the Coronavirus crisis. He announced what he called a coherent, coordinated and comprehensive scheme for the self-employed. This positive approach from the Chancellor, and the speed of the Government’s response, is worthy of congratulations. Yet inevitably, in this fast-moving crisis, there remain some areas to iron out, largely linked to the policies’ likely execution and administration. The biggest challenge is the delay, as the measures unveiled will take a couple of months to implement, and the strain that this may place on those self-employed who do not have access to income during this time.
Latest Economics & Social Policy Blogs
Historically, the UK has not had as effective competition policies as other countries – but that can change.
Twenty years after the creation of the euro, a powerful cocktail of forces have made the southern economies of Europe permanently uncompetitive compared to the northern economies and the wider international economy. Yet the currency may limp on for years yet
Policy Exchange’s Warwick Lightfoot – a former Special Adviser to three Chancellors – says the Prime Minister’s announcement that ‘austerity’ is ending is good politics. But increased public spending doesn’t always mean better public sector productivity, he warns.
Latest Economics & Social Policy News
Rt Hon Liam Fox MP, Secretary of State for International Trade, visited Policy Exchange to deliver a keynote speech on free trade and the UK’s place in the world after its departure from the EU.
Bank of England Governor Mark Carney spoke 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.
Warwick Lightfoot, Policy Exchange’s Head of Economics, gave evidence to the House of Lords Committee on Intergenerational Fairness, answering questions on the balance of taxation between generations among other issues.
Latest Economics & Social Policy Events
- Monday, 30 April, 2018
12:00 - 13:30
The first launch of Sir Paul Tucker’s new book Unelected Power: The Quest for Legitimacy in Central Banking and the Regulatory State. Sir Paul introduced the book, and followed this with a panel discussion and Q&A.
- Friday, 6 April, 2018
8:45 - 10:00
Policy Exchange welcomed Siv Jensen, Norwegian Finance Minister and leader of the Progress Party, who said that British and Norwegian views on the single market in financial services have often been aligned and reflected on the challenges for monetary policy, including the lowering of inflation targets and an increase in interest rates to ensure credit risk is appropriately priced. Singling out the housing market, she argued that home ownership is cherished by people in both Norway and Britain – and that a balanced approach to regulation is required to avoid asset booms (and busts).
Venue: Policy Exchange
- Wednesday, 14 February, 2018
10:30 - 11:30
The Secretary of State for Foreign and Commonwealth Affairs, Rt Hon Boris Johnson MP, set out his vision for a liberal Brexit in a speech given at Policy Exchange.
- Tuesday, 30 January, 2018
8:00 - 9:00
The Chief Secretary to the Treasury, Rt Hon Liz Truss MP, made the case for the free market in an event at Policy Exchange. Truss said that free enterprise has huge economic benefits, driving down prices and creating growth and jobs, and is intensely democratic and open, breaking down monopolies, hierarchies and outdated practices.
- Thursday, 7 December, 2017
12:00 - 13:45
How can the UK ensure that it is competitive post Brexit? Dominic Raab MP joined an expert panel to offer answers to this question which will have a significant impact upon the wealth of the country following Brexit. This event marked the launch of Everyone has a part to play: Improving the UK’s competitiveness post-Brexit by enhancing the rule of law, a new report from Linklaters on this once-in-a-generation opportunity to reinforce the rule of law and hence the UK’s economic competitiveness and prosperity.
- Tuesday, 20 June, 2017
12:15 - 13:30
Policy Exchange was delighted to host a talk by Peter Cove on his strategy for ending poverty in the USA
Venue: Policy Exchange