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* TALKING POINT, BY PROFESSOR SYED KAMALL
* UP IN SMOKE
* iN THE MEDIA
* CRITICAL THOUGHT
* THE SWIFT HALF
* YOU'RE INVITED

This week the government published its snappily titled 'Global Britain in a Competitive Age, the Integrated Review of Security, Defence, Development and Foreign Policy'. Described as a "vision for the UK’s role in the world," it provides a guide to post-Brexit UK foreign policy.

The main announcements include:

– Increased defence spending including more nuclear warheads.
– Viewing China as the "biggest state-based threat" to Britain’s economic security, highlighting the need to make critical infrastructure and technology more secure to allow continued trade and investment flows.
– Alliances with Indo-Pacific countries including India, Japan and Australia.
– A White House-style situation room and a new counter-terrorism operations centre.

What do classical liberals make of all this? There is a debate on whether there is a classical liberal perspective on international relations (IR), but I believe we can take both an economic and IR view on the plans.

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The government has adopted a sensible balance towards China, encouraging trade and other links, while being aware of potential security threats. Fortunately, it has not adopted the "new Cold War" rhetoric of some commentators. Unlike the USSR, the Communist Party of China does not seek to export its ideology. Instead, its "China First" strategy pursues access to raw materials, technology, know-how and markets for Chinese state-owned and other enterprises – as was explored in the IEA's briefing paper, Chinese Puzzle ([link removed]) .

The shift towards the Indo-Pacific mirrors President Biden’s recent Quad summit meeting with Australia, India and Japan, so the US and UK appear to be working in tandem here. However, it is questionable whether the military aspects are realistic, given the UK's current capacity. And it raises questions of value for money: will having 260 nuclear warheads instead of 180 make any real difference, for instance?

The review contains elements of classical liberal thinking and cannot be faulted for being ambitious. How realistic it is, however, remains to be seen.

Professor Syed Kamall
Acting Academic and Research Director, Institute of Economic Affairs
UP IN SMOKE

EPICENTER, the independent network of nine think tanks from across Europe, has this week released a new briefing paper titled 'Vaping's image problem' ([link removed]) .

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Authored by IEA Head of Lifestyle Economics Christopher Snowdon, it argues that misinformation from some public health agencies has created widespread systematic bias against e-cigarettes and other reduced-risk nicotine products, despite the fact that vaping is less harmful than smoking. E-cigarettes could provide a rare chance for science-led public health campaigners and supporters of individual choice to unite behind new innovations, he writes, but besides the UK, this is not the approach most European regulators have taken.

Christopher wrote for New Europe ([link removed]) about unhelpful EU rules like the EU Tobacco Product Directive, which prevent e-cigarette companies from advertising their relative merits to smoking – even though evidence shows that vaping helps people quit smoking.

And in an article for Spiked ([link removed]) , Christopher offered a cross-country analysis of attitudes towards vaping: the US has been in a "moral panic" about e-cigarettes for many years, and one study ([link removed]) found that 59 per cent of Europeans wrongly believe that vaping is as dangerous or more dangerous than smoking. "Millions of people continue to be dangerously misinformed and there is work to be done in educating them," he says.

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And we will be playing our part in correcting the record: from 6-7pm on Monday 29th March, Christopher will chair a webinar on the future of UK tobacco harm reduction policy, with panellists Mark Pawsey MP, Chair of the APPG on Vaping, Martin Cullip, Chair of the New Nicotine Alliance, and Clive Bates, Director of Counterfactual. Find out more here ([link removed]) .
iN THE MEDIA

Bets back on... Following last week's publication of 'A safer bet: Gambling and the risks of over-regulation' ([link removed]) , the report's author Christopher Snowdon wrote for The Yorkshire Post ([link removed]) on how the government can ensure gambling regulation is fit for the digital age.

Fare pay?... IEA Director of Communications Annabel Denham wrote for The Spectator ([link removed]-) on Uber's decision to update their terms of employment following last month's ruling by the UK Supreme Court. Annabel warned that the changes may prove to be a "Pyrrhic victory" with potentially devastating consequences for the wider gig economy. Read here ([link removed]-) .

IEA Editorial and Research Fellow Professor Len Shackleton responded to the Uber news on NTDTV, and you can read his full press comment here ([link removed]) .

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Prolong the inevitable.. Len also wrote in The Telegraph ([link removed]) that the "inevitable" Covid public inquiry will be "immensely disruptive". At the very least, we ought to wait until the crisis is definitely over before beginning the investigation. If things turn for the worse again, Len says, we can't have the government battling on two fronts. Read here ([link removed]) .

The View... Annabel appeared as a guest on Sky News: All Out Politics alongside former Guardian Editor Alan Rusbridger to review the day's top opinion pages. She argued that, in response to public concern over harassment of women, ministers should be wary of "policymaking via public opinion" when examining proposals for tougher legislation. Annabel also questioned whether now is the right time to begin a public inquiry into the government's handling of the pandemic.

Hot off the press... Both Annabel and IEA Head of Media Emily Carver appeared on Times Radio this week to review the news. Annabel also discussed the Police, Crime, Sentencing and Courts Bill with Kevin O'Sullivan on talkRadio last Sunday. How the UK polices protests, which has received increased attention this week following scenes from the Clapham Common vigil hosted last Saturday, was further explored during our latest episode of Live with Littlewood.

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Host and IEA Director General Mark Littlewood was joined by Kate Andrews, Economics Correspondent at The Spectator; Conservative MP for Wycombe Steve Baker; Comedian and MoneyWeek Columnist Dominic Frisby; and Policy Exchange Senior Fellow Calvin Robinson.

Steve argued that, while he firmly believes people should be free to protest, the Bill is necessary to deal with radical new tactics by political protesters. Calvin challenged the assertion that we are moving towards an authoritarian state because, unfortunately, "we are already living in one".

The conversation later moved to whether the EU is misapplying the precautionary principle to the AstraZeneca vaccine, and whether inflation has "already hit". Kate pointed out that, until a month ago, the economic consensus was that "incredible" conditions for borrowing are here to stay. But over a matter of weeks this has broken down – and there is growing fear that if the current set of circumstances changes it could cost billions. Catch up here ([link removed]) .
CRITICAL THOUGHT

The IEA was this week approached by a journalist from The Guardian newspaper concerning the Institute's use of the Coronavirus Job Retention Scheme (CJRS). The journalist asked whether the IEA should pay back the support it has received and questioned whether putting staff on furlough, while some spokespeople were critical of the scheme, amounted to "hypocrisy".

It is true that some IEA staff members have been critical of the furlough scheme. Others have made the positive case for extending it. The IEA is an educational charity whose spokespeople voice personal views – they are free to disagree and often do so (see, for instance, our latest Head-to-Head ([link removed]) with IEA Director General Mark Littlewood and our Head of Cultural Affairs Marc Glendening on the future of the Union...).

In response to The Guardian, IEA Director of Communications Annabel Denham said that IEA staff writing critically about the Coronavirus Job Retention Scheme does not prevent the IEA from using it as intended any more than articles in The Guardian criticising tax planning prevent The Guardian's parent company the Scott Trust from investing in tax havens.

Annabel added that we we must operate in the world as we find it, not as we would like it to be. She said: "A number of IEA spokespeople have made the case for NHS reform to improve efficiency, quality and outcomes – but I doubt the Institute would be accused of hypocrisy were it to call an ambulance if a staff member had a serious injury."

You can read the full response here ([link removed]) .
THE SWIFT HALF

This Tuesday marks the grim anniversary of the first time the UK government imposed a ("three-week") national lockdown to limit the Coronavirus's spread. But in more positive news, it will also be the date that the IEA launches its newest show: The Swift Half with Snowdon.

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Hosted by our Head of Lifestyle Economics Christopher Snowdon, the series of 30-minute programmes will feature a legion of fantastic guests and explore a range of topics. In the first edition, Christopher interviews comedian Simon Evans about the impact of Coronavirus restrictions on showbusiness, lockdowns, and putting an economic value on a human life. Watch from midnight on Tuesday here ([link removed]) – and subscribe to our YouTube channel ([link removed]) so you never miss an episode.
YOU'RE INVITED

* In Conversation with Jim Mellon – Moo's Law: An Investor's Guide to the New Agrarian Revolution

This Tuesday, 23rd March, from 5-6pm, the Institute of Economic Affairs will host a discussion with businessman Jim Mellon to discuss his latest book, 'Moo’s Law: An Investor’s Guide to the New Agrarian Revolution ([link removed]) '. IEA Director General Mark Littlewood will chair the discussion.

Jim is an entrepreneur with a flair for identifying emerging global trends. Most notably, he is widely recognised for predicting the credit crunch of 2007-08 in his book 'Wake Up! Survive and Prosper in the Coming Economic Turmoil ([link removed]) '.

In Moo's Law, Jim guides investors into the nascent field of cultivated meats and plant-based proteins and outlines the technologies that are enabling it to rapidly develop. From lab-grown meats, to dairy, to protein derived from air, Jim charts which companies are an exciting investment opportunity. Jim will explain why these are not only smart investments, but absolutely necessary ones. You can watch the event live here ([link removed]) .

* In Conversation with Richard Tice

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And on Wednesday, 24^th March, from 6-7pm, the Institute of Economic Affairs will host a discussion with Richard Tice, Party leader of Reform UK, for the latest episode of our In Conversation series with senior figures across public life. IEA Director General Mark Littlewood will chair the discussion.

Having spent most of his professional life in real estate and asset management, Richard is a passionate activist and prominent Eurosceptic, having founded Leave Means Leave, Leave.EU and the Brexit Party. He served as a Brexit Party MEP for the East of England from 2019 until the UK left the European Union. He stood for the Brexit Party in Hartlepool in the 2019 General Election and now serves as Leader and Chairman of Reform UK. The event will be live-streamed on the IEA YouTube channel here ([link removed]) .

* In Conversation with Professor James Tooley

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On Tuesday 30th March, from 6-7pm, the IEA Book Club will be hosting a webinar with Professor James Tooley, Vice-Chancellor of the University of Buckingham. James will be discussing his latest book, 'Really Good Schools: Global Lessons for High-Calibre, Low-Cost Education'. ([link removed])

This virtual event will be chaired by Professor Philip Booth, IEA Senior Fellow and Director of the Vinson Centre for the Public Understanding of Economics and Entrepreneurship at the University of Buckingham.

Please note the event is exclusive to IEA Book Club members. To find out more about the IEA Book Club, you can visit the link here ([link removed]) or alternatively get in touch at [email protected] (mailto:[email protected]?subject=James%20Tooley%20webinar) .

*Upcoming Sixth Form conferences

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Throughout March, the IEA and the Vinson Centre for the Public Understanding of Economics and Entrepreneurship at the University of Buckingham have been hosting a number of free (virtual) conferences for Sixth Form students. Find out morehere ([link removed]) .

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