SUNAK: SAINT OR SINNER?

Earlier this week, Chancellor Rishi Sunak set out his ‘Summer Economic Update’.

In his mini-budget, he unveiled £30 billion worth of measures to protect and ‘create’ jobs, culminating in the surprise ‘Eat Out to Help Out’ giveaway. 

But is the Chancellor’s approach the right one to kickstart our post-lockdown recovery?  Are his measures the real deal - or a meal deal?  

This question was one of many  -  including the debate on ‘cancel culture’ and the West’s relationship with China - discussed on this week’s edition of our Live with Littlewood programme. 



Panellists included renowned economist Andrew Lilico, journalist Isabel Oakeshott, the Institute of Ideas’ Claire Fox and more. Catch up on the free-rolling discussion here.

IEA staff were also in demand to give their views on the Chancellor’s measures.

IEA Economics Fellow Julian Jessop welcomed the temporary cut to Stamp Duty but recommended the Chancellor “extend this into a fundamental review of all taxes on property”.

Julian also questioned whether the ‘Eat Out to Help Out’ scheme “may be a gimmick too far” but conceded that it “is at least market-led, in that consumers themselves will decide which businesses should benefit”. His comments were featured in The Sun and the Daily Mail.

Elsewhere, IEA Director General Mark Littlewood appeared on talkRadio to discuss the government’s approach, while IEA Editorial and Research Fellow Len Shackleton spoke to BBC Radio Three Countries and wrote for CapX. 

Len questioned whether the ‘sticking plaster’ measures – including recruitment subsidies for those employing under 25s - would make a great deal of difference to our economic recovery. These types of schemes, he noted, tend to “benefit large companies able to take on more subsidised workers over small and medium sized enterprises.”

State infrastructure spending was given a boost with a further £5.8bn promised. Quoted in The Times and Conservative Home, Academic and Research Director Syed Kamall noted that while the “Chancellor can only do so much”, “it is disappointing more was not announced to encourage private investment”.

Meanwhile, Head of Communications Emma Revell shared her thoughts on talkRadio, and Media Manager Emily Carver gave her take for The Sun.



With Sunak betting on a ‘V-shaped’ recovery, Head of Lifestyle Economics Christopher Snowdon challenged the idea that gambling is ‘morally wrong’ on BBC Radio 4’s Moral Maze programme. Chris also debunked the common belief that regulation can prevent problem gambling. You can listen back here.

MARXISM at the MOVIES

Complaints about left-wing bias in the media are not new. Indeed, one of the main accusations levelled at the BBC is serial editorialising.

Today, the woke, virtue-signalling actor, ready to jump on every fashionable left-wing bandwagon, has become a popular cliché. But have Marxists truly taken over the cinema?

Dr Kristian Niemietz, IEA Head of Political Economy-turned-temporary-film-reviewer, spoke to Emma Revell about two recent examples of dystopian science fiction-thrillers - The Platform and Snowpiercer - that may demonstrate such a bias.

Watch their discussion here.

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"We're watching at least one IEA event each day and it's getting hard to choose from such a smorgasbord of delicacies from so many talented chefs"

Monday to Saturday, IEA Daily brings you the key stories of the day – plus the latest on all our online activities and recommendations on must-reads, must-listens and more.

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YOU'RE INVITED

Tuesday 14th July (6.30pm BST) IEA Book Club Webinar with Dr Rainer Zitelmann: THE RICH IN PUBLIC OPINION

The IEA Book Club will be hosting historian and sociologist Dr Rainer Zitelmann to discuss his latest book “The Rich in Public Opinion: What We Think When We Think about Wealth”. 

In his book, Dr Zitelmann examines attitudes about wealth and the wealthy in four industrialized Western countries: Germany, the United States, France, and Great Britain. 

It examines how we think about a minority that, while undeniably powerful, can still be the subject of negative stereotypes, prejudice, and scapegoating― often with dire effects for us all.

If you would like to join us for the webinar, please register here.

IIMR Money Webinar Series in collaboration with the Vinson Centre, University of Buckingham

The Institute of International Monetary Research at the University of Buckingham is hosting a series of webinars in collaboration with the Vinson Centre.

The first is next Wednesday at 4pm, with Professor Geoffrey Wood on ‘What insights can history provide for central banks hit by large rises in government debt?’ 

For more information including the full schedule and registration, click here.

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