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ASI Bulletin: The dog days aren't over
Since the last bulletin, we've passed Cost of Rent Day and Tax Freedom Day!
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IN THIS ASI E-BULLETIN
From Eamonn Butler and ASI staff
NEW HIRE! Emma Schubart joins us to revolutionise ASI’s polling and data insights.
TRACKERS: We keep an eye on the cost of taxes and rents. And it’s not pretty.
OUR SUPERBLOG: Why don’t you get involved too?
But first, the week's news…
I know a lot of people criticise the UK Chancellor, Rachel Reeves, but I think she’s working magic on the economy — her favourite trick is making money disappear. Last week she delivered her Spending Review. (Every economist: “OK, I”m going out to get drunk now.”) More than 4,000 company directors left the UK in the last year. (How do you pronounce ‘£££exit’?—Ed.) And the ASI calculates that Tax Freedom Day is the latest it’s been in 40 years. (At this rate, we’ll all be retired before we earn any money to keep for ourselves at all.)
The new head of MI6 was formerly head of the spook-group’s technical division, ‘Q’. (So now Bond’s martini will be shaken, not stirred, by AI robot bartenders.) The House of Lords has a £10m new door, but it doesn’t work properly. (Still lets in bad legislation from the Commons, I guess.) Thieves who stole a golden toilet artwork from Blenheim Palace have been jailed. (Prosecutors are said to be ‘flushed with success’.)
The King presided over Trooping the Colour. (Such a grand event that even the pigeons stand to attention.) He is to give David Beckham a knighthood. (So Becks will have to practice bending the knee, rather than the ball.) And Donald Trump and Keir Starmer have signed a trade deal. (Although, unfortunately, Trump got custody of the shredder.)
But I digress…
NEW HIRE!
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We're delighted to announce that Emma Schubart has joined us as our Data and Insights Manager. She has been a Research Associate at JL Partners and a Data Scientist at Oxford Global Projects, and holds an MSc in Applied Data Science. (Brainy!—Ed.) Her focus at ASI will be on policy-focused polling, with our new independent Adam Smith Insights. She’s having an impact after just one week, with her first poll featured across the media. Interested? Contact [email protected] to arrange a coffee.
ASI TRACKERS
Cost of Rent Day: That’s when average renters in England have paid off their rent and start earning for themselves. This year, it’s May 6th. If you rent, every pre-tax penny you earned went in rent.
Tax Freedom Day is the day when Brits stop paying tax and start earning for themselves. Last year, that was June 12th — the latest in 40 years, indicating that taxpayers have to slave for the Treasury 162 days of the year. And its only going to get worse. In three years, we figure it will be June 28th!!
NEW RESEARCH
Financial Five Eyes: Towards A New Sanctions Framework
We been working with ex-Lord Chancellor, Robert Buckland, to improve the UKs sanctions framework. We propose a modern, tiered sanctions system that can tackle new forms of aggression - from cyber-attacks to economic sabotage. A smarter framework would distinguish between symbolic gestures and serious pressure, allowing for measured escalation when needed.
Dwharfing the City: The Next Generation of Urban Development Corporations
A new Thames Gateway Urban Development Corporation (UDC), could create 163,000 new homes. We also propose new UDCs in Oxford and Bristol, easing their housing shortages and unlocking economic growth. And we suggest adapting current development plans in Cambridge and Liverpool to a UDC model.
MEDIA
This year, Tax Freedom Day made a big splash. It was covered in The Times, The Express, Which?, City AM, Guido Fawkes and a host of other outlets. James Lawson, Sam Bailey and Jasper Ostle were in City AM, ConHome and Cap X, respectively. Seb Charleton was on BBC 5 Live.
And, our Tax Freedom Day polling was covered in The Mail, The Telegraph, and even featured in a report by the CPS.
But, that’s not all. Just a few weeks ago, our non-doms research made the front cover of The Spectator. What’s more, Jasper Ostle was in The Critic making the case against Blue Labour, Robert Buckland was in City AM explaining how the UK can reform its sanctions regime and Seb Charleton was in The Times arguing against free travel for 60+.
UPCOMING EVENTS
The Next Generation with Katie Lam MP
On Tuesday, 1st July, we will be hosting Katie Lam, Kent MP and shadow Home Office minister. (She’s also an award-winning lyricist and playwright!) She’s going to talk about the history of Liberalism hereabouts — what can we draw from the past, and what does that tell us about the future?
Join us on Monday, 7th July to discuss the economics of decentralised urban planning and housing policy with Professor Alain Bertaud. Everyone knows we need new houses. But how we build those houses is of equal importance. And, unsurprisingly, we believe the answer lies in bottom-up market dynamics rather than top-down central planning.
PAST EVENTS
Kiwi Deputy PM David Seymour
Last Monday, we had a full house for New Zealand's Deputy PM, Hon. David Seymour MP. He told us of the state of liberalism in NZ, and his vision for the future. In conversation with Lord Danial Hannah, he discussed his experience as a serving government minister and what fellow countries can learn from his government’s experience.
The Next Generation with Aria Babu
Last Tuesday, we welcomed Aria Babu, editor at Works in Progress, whose policy career has included stints at PricedOut, Policy Exchange and The Entrepreneurs' Network. She spoke about pronatalism, and policy solutions to the fertility crisis, outlining a liberal, pro-choice approach.
ASI ONLINE
Pick of the blog
Why don’t you write something for the ASI Superblog? Email us here: [email protected].
The Clock Is Ticking on Britain’s Rare Earth Dependence by Joshua Dazinger. ‘Rare Earths’ are essential to advanced technologies, such as transport and defence. But most of the world gets them from China, making us vulnerable to hostile action. So, what to do?
The Retirement Age Should be 80 by Tim Worstall. Denmark’s upping retirement to 70. With lifespans in retirement now averaging 15 years (and some are a lot longer), outstripping our ability to pay for it. We need to work — and save — for longer.
Absolute Poverty by Madsen Pirie. Relative poverty is always with us: that’s a statistical fact. But in absolute terms, even the poorest of us are very much richer than our great grandparents. We should prioritise real hardship, not statistics.
After the Rose Garden by Miles Saltiel, in our Deep Dives section. Is the UK simply marginalised between the big US and EU trading blocks? Award-winning analyst Miles Saltiel reviews the options: doing nothing, taking the moral high ground, unleashing growth, or aligning with other blocs — and looks at the effects on markets, allies, trade, defence and much more.
VIDEOS
How to Build the Next Canary Wharf.
David Friedman on markets, governments and whether we need either?
Tax Freedom Day: What could you do with 162 days more freedom?
And I quote …
With the probablility (You mean certainty!—Ed.) of taxes rising (Again!—Ed.) in the autumn, I was drawn to this bon mot from former US President Grover Cleveland:
When more of the people's sustenance is exacted through the form of taxation than is necessary to meet the just obligations of government and expenses of its economical administration, such exaction becomes ruthless extortion and a violation of the fundamental principles of a free government.
I know the feeling. Bye…
Eamonn Butler
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