This June, you will probably be hoping to enjoy the first truly relaxed summer for two years. What to do with this opportunity? One thing you should definitely do is to set aside Saturday, 25 June for the special treat that is the IEA’s THINK Conference, held at the Royal Geographical Society in South Kensington. THINK is a one day conference with a particular focus on innovations, new questions and new ideas. The first one was held in 2015 so it has now reached its seventh year and bids fair to be a permanent feature of the summer.



THINK is a conference with speakers from academia, politics, business and the media who will present challenging ideas, ones that often do not fit into any orthodoxy but particularly the ones that dominate the media discussion. We explore the phenomenon of innovation and the ways in which it continues to transform our world. Each year has a particular emphasis within that overarching theme – the last two have explored the likely impact of the pandemic, for example. The audience is primarily younger people but is open to everyone.

This year we have an even stronger and more exciting line up of speakers. The speakers will be announced weekly (so stay tuned!)  but we can reveal our first speaker is Baroness Claire Fox, Founder of the Institute of Ideas.

As in previous years, this promises to be a stellar event. It will be the first live and in-person event after two years of virtual ones so it should be particularly lively as people renew acquaintance, meet old friends, and make new ones. Please do share the event and come along yourself!

You can find out more about THINK here and read the THINK 2022 section of the newsletter to find out what Claire Fox will be discussing.

Dr Steve Davies
Head of Education, Institute of Economic Affairs

iN THE MEDIA



Common ground... This week, Sky News launched a new debate show called 'Common Ground'. The programme challenges two panelists with opposing views to find points of agreement on some of the biggest policy issues of our time.

IEA Director General Mark Littlewood appeared as a guest on the first ever show, alongside Sepi Golzari-Munro of the Climate Intelligence Unit. The pair discussed whether we should put Net Zero targets on hold, in light of soaring energy bills and the rising cost of living.

Mark noted that decarbonisation is essential, but noted that Net Zero is "overly costly and overly specific". Watch the full show here.



BBC Politics Live... IEA Director of Communications Annabel Denham appeared on BBC Politics Live on Wednesday to discuss the fallout from the P&O Ferries scandal, Partygate and disruptive climate protests.

On legislation to embolden workers protection after the P&O Ferries scandal, Annabel warned the measures may incentivise companies to register overseas to avoid paying higher costs. More generally, she advised the government to "tread very carefully" when intervening in the labour market for risk of damaging job creation and worker flexibility. Watch here.



Biden bites... President Joe Biden has proposed a 'billionaire tax' as part of the White House's new budget. The tax will hit American households worth more than $100m with a new minimum tax of 20 per cent on all of their income, including on unrealised investments.

In her weekly column for The Spectator, Annabel Denham said the wealth tax could have negative consequences for the economy and investment, by encouraging individuals to move their money abroad. She also attacked 'billionaire bashing' and moralising about taxation, which often overlooks the immense benefits wealth creation brings to wider society. Read here.

Annabel also commented on the Biden tax plan in The Telegraph.



Corporate window dressing?... Writing for The Telegraph Business, Annabel noted that people of all political stripes are united against 'woke window dressing', and that the majority of consumers simply want quality affordable goods, not ESG slogans.



Time for clarity... The debate around transgender women in sport has featured heavily in the news after transgender swimmer, Lia Thomas, won America's top trophy in university sports. IEA Head of Media Emily Carver argued that it's no surprise some politicians are finding it so difficult to define what a woman is, considering the incoherence of the legislation surrounding sex and gender identity.

Writing for Conservative Home, Emily said: "It’s clear that in key areas, women’s and transgender rights are in conflict. It’s time that the Government stop denying biology, admit these problems exist, and commit to resolving them – it may well prove a vote-winner".



News panel... Emily also appeared on the Times Radio Breakfast Show to discuss the news headlines on Thursday, including the Shrewsbury maternity scandal. Emily noted that public satisfaction with the NHS is at a 25-year low and made the case for alternative healthcare models. Listen here. (Skip to 3h13m)

IEA Head of Political economy Dr Kristian Niemietz also discussed the nation's waning confidence in the NHS on GB News. He noted that "the NHS has performed worse than most comparable health systems in developed countries in terms of outcomes", and reminded viewers that private health insurance systems, such as in the Netherlands, offer universal care with better outcomes. Watch highlights here.



Hotting up... The Chancellor cut the 5 per cent VAT rate on green home improvements at the Spring Statement, including the installation of solar panels, in an effort to boost the uptake of renewables.

IEA Energy Analyst Andy Mayer believed the measures were not enough to make a meaningful dent in rising costs. Commenting in City AM, Andy said: "The main beneficiaries will be those with larger homes and budgets who can well afford five per cent". Read Andy's IEA blog on the subject here.



Get drilling... Andy also commented on the energy price cap rise, which came into effect on Friday. The increase is expected to add an extra £700 to the average household’s annual gas and electricity bills.

Andy argued that the price cap and the government’s "ideological Net Zero agenda" are responsible for the UK's ill preparedness for price shocks. He suggested that the UK should be investing in affordable domestic energy sources such as North Sea and fracking to alleviate high energy costs. Read the full press release here.

Andy also appeared on GB News, talkRADIO and BBC Radio Surrey to discuss the cost-of-living squeeze.



IEA Head of Lifestyle Economics Christopher Snowdon gave his assessment of the cost of living crisis on GB News, arguing the government should be doing more to lower the cost of childcare, housing and other goods to ease the hit on household finances. Watch here.

CALLING ALL STUDENTS!

We are excited to launch the Economic Thought Leaders’ Symposium at the University of Buckingham from 7-9 September 2022.

The theme for this year’s programme is The Economics of War and Peace. We will discuss topics like trade not war, international institutions, diplomacy and game theory. To apply, please send a CV and cover letter explaining why you’d like to attend, as well as 500 words on promoting the reconstruction of an economy after a war to [email protected] by 17 June 2022. You can find out more here.



We have launched the 2022 Dorian Fisher Essay Competition. Named after the beloved wife of our founder Sir Antony Fisher, this is our biggest essay competition of the year, exclusively for A-Level and IB students.

First prize will receive £500, with a separate prize of £500 for the school with the highest number of entrants. The deadline for this year’s competition is Friday 29 July 2022. You can find out more here.