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Economic policy | 22-Nov-2017

MHP Budget Breakfast

Graeme Leach spoke alongside the Rt. Hon. Iain Duncan Smith, and George Parker, Political Editor of the Financial Times, at the MHP Budget Breakfast. 

Graeme discussed the 10 economic policy challenges which need to be addressed in order to maximise the competitiveness of the UK economy.

These are: (1) How to use pre-announcements to significantly reduce the rate of Corporation Tax. (2) How to supersize the economy by downsizing the size of state. (3) How to create an enabling government. (4) How to decentralise public sector pay to the level of the school or hospital. (5) How to make housing more affordable by help to supply, not help to buy. (6) How to transform health and education from a cost to a growth opportunity. (7) How to overcome the economic malaise about UK productivity forecasts, by improving our ability to measure the intangible economy. (8) How to overcome the economic malaise around Brexit, by using a hybrid of classical free trade and gravity modelling, which switches the result from negative to positive. (9) The need for a total intervention index - tax & spend and regulation. (10) The huge error factor in OBR forecasts and why the latest forecasts could break with the past by being too pessimistic not optimistic.

 

Economic policy | 16-Nov-2017

BREXIT and the Budget

Graeme Leach chaired a pre-Budget meeting of Economists for Free Trade, on the impact of BREXIT on fiscal policy in the UK.

The main purpose of the event was to show that if the UK combined genuine free-trade, with supply side reform (de-regulation) and continued restraint in the growth of public spending, a fiscal window of opportunity would open up in the early 2020s.

A Conservative Government would likely spend it on deep cuts in Corporation Tax (say to 10% by 2025) and a reduction in the top rate of Income Tax to under 40%. Labour, in contrast, would be likely to aim the window of opportunity in the direction of higher public spending on the NHS, welfare and education.

 

 

News | 13-Oct-2017

BNY Mellon Pension Summit

Graeme Leach gave the keynote speech at the BNY Mellon Pension Summit. Building on the summit theme of 'Plain sailing or choppy waters ahead' he argued there are huge economic challenges ahead in the near term, but in the long-term a technology revolution is likely to accelerate productivity growth. He argued that for the first time in history the world is becoming a truly world economy, bringing together buyers and sellers and savers and borrowers. He argued that this is precisely the wrong moment in time to turn to populism, statism and protectionism, because economic freedom will be required to overcome the demographic challenges ahead.

 

NEWS | 07-Oct-2017

An upbeat BREXIT story

Writing for The Daily Telegraph Graeme Leach explained how BREXIT could lead to lower prices and higher productivity if the Government pursued a classical free trade policy with zero tariff and non-tariff barriers on imports to the UK from all countries. This policy recommendation stands in sharp contrast to the entire economic debate at present, which emphasises the need for zero tariff and non-tariff barriers on UK exports to the EU.

 

NEWS | 01-Oct-2017

The choice revolution

Writing for The Daily Telegraph Graeme Leach argued that the future of public services in the 21st century would be built around choice. He argued that at present we have choice in every area of our lives, except the 2 most important - our children's future and our health - which are delivered by public sector monopoly provision. Graeme argued this position would become unsustainable.

 

NEWS | 20-Sep-2017

2017 Brittelstand Symposium at Henley Business School

Graeme Leach spoke on future threats to the UK and world economy covering potential icebergs such as: (1) The risks from normalisation. (2) Global asset market bubbles. (3) The potential return of the euro crisis. (4) Will there be a China crisis? He then discussed the long-term race for economic supremacy in the 21st century and the race to gain the positive benefits of technology before the negative costs of demography kick-in.

 

NEWS | 19-Sep-2017

LMA 10th Syndicated Loans Conference at the QE2 Centre in Westminster

Speaking to over 1,000 business leaders from the Loan Market Association, Graeme Leach talked about how BREXIT could be an economic success story for the City and UK economy if the Government chooses to pursue genuine free trade with zero tariff and non-tariff barriers on imports. He set out the counter intuitive truth that a selfless, as opposed to self-interested or selfish BREXIT, is the key to economic success.