* TALKING POINT, EDWARD HUGHES
* THINKTENT 2022
* iN THE MEDIA
* OUT OF POCKET
* IATP YOUTUBE
* IEA DIGITAL
* ON THE CALENDAR
* CALLING ALL STUDENTS!

After the success of last year’s ThinkTent, which included an in-depth conversation with the then Chancellor Rishi Sunak, the line-up of 2022’s landmark event promises to be yet another blockbuster.

Chancellor Kwasi Kwarteng will join us on Tuesday at 5.45pm for an in-depth interview with IEA Director General Mark Littlewood and the Taxpayers’ Alliance Chief Executive John O’Connell.

We'll also discuss how far the new Prime Minister Liz Truss will go to challenge the Westminster political and economic consensus in our panel event on the future of the Conservative Party (Tuesday at 4.15pm).

And, what changes are we likely to see in specific policy areas? We’ve got this covered with events on free speech (Sunday at 4.40pm), net zero (Monday at 10.15am), railways (Monday 2pm), and much more – each with a panel of experts from politics, academia, and the media to give their view.

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With such a packed line-up, the IEA and TPA will be at the centre of the battle of ideas at this year’s conference. We are also keen to spread the discussions far and wide for those who won’t be at the party conference. The events will be livestreamed on our YouTube channel ([link removed]) and we’ll keep you up to date throughout on our social media channels.

After months of preparation, I’m looking forward to seeing the Think Tent back in action. Whether at conference or at home, we hope you’ll enjoy the panel discussions and contributions from all of our guests.

Edward Hughes
IEA Head of Public Affairs

THINKTENT 2022

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Conservative Party Conference is once again upon us and that means only one thing: the return of ThinkTent, co-hosted by the IEA and the Taxpayers' Alliance.

This weekend, we will be making our way up to Birmingham from Sunday 2 October to Wednesday 5 October, where we will be hosting a range of thought-provoking panel discussions with influential journalists, politicians and policy experts.

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At 11.30am on Monday October 3, the IEA is delighted to host the Rt Hon Jacob Rees-Mogg MP, Secretary of State for Business, Energy and Industrial Strategy, for an In Conversation, chaired by IEA Director General Mark Littlewood. Mark and Jacob will discuss what the government is doing to seize Brexit opportunities and unleash innovation.

If you are not planning to attend the conference, be sure to tune into the livestream here ([link removed]) .

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At 5.45pm on October 3, the IEA and Taxpayers' Alliance will be hosting a panel discussion on the cost-of-living crisis, posing the question: 'Is the worst yet to come?'.

Chaired by Non-executive Director of the Taxpayers' Alliance Mike Denham, the panel will include Stephen Bush, Associate Editor at the Financial Times; Alex Morton, Director of Strategy at the IEA; Miriam Cates, MP for Penistone and Stocksbridge; and John O'Connell, Chief Executive at the TaxPayers' Alliance. Tune in here ([link removed]) .

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And, at 5.45pm on October 4, we will be hosting with the TPA an In Conversation with the Chancellor of the Exchequer, the Rt Hon Kwasi Kwarteng.

IEA Director General Mark Littlewood
and Chief Executive of the Taxpayers' Alliance, John O'Connell, will put their questions to the Chancellor on the current economic situation and prospects for the future. Be sure to tune in here ([link removed]) .

These are only a selection of the events on offer – you can browse our full schedule here ([link removed]) .

We look forward to seeing many of you in Birmingham!

iN THE MEDIA

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Out with the old... After days of turmoil in the financial markets, IEA Director General Mark Littlewood wrote for The Times ([link removed]) on the reaction to the new administration's fiscal announcements.

Mark argued that 'Trussonomics' is likely to survive its tumultuous first few weeks, reminding readers that: “So far, really, we have seen only one part [of the strategy], which was rolled out in the form of last week’s mini-budget. This was to reverse the trend that has led to the highest overall tax burden since the 1940s — and to do so in such a way that wasn’t focused exclusively on distributional outcomes. Because the affluent pay more taxes, it is effectively impossible to reduce taxes without higher earners reaping more of the benefit.”

However, Mark noted that is now essential that we hear the details of how spending is to be curtailed and red tape to be removed. Only then, with patience and resolve, can growth be expected to follow.

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The visible hand... Writing for The Express ([link removed]) , IEA Economics Fellow Andrew Lilico explained the Bank of England's gilt market intervention. He noted:

"So rapid interest rate rises were creating large and rapid losses for pension funds. Pension funds also had some problem with their use of fancier finance tools called “swaps”. All in all, the very volatile conditions had led to a problem and the Bank intervened to calm things down."

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Hands off... IEA Head of Public Policy Matthew Lesh wrote for the Daily Mail ([link removed]) in response to the IMF’s recent statement urging Britain to rethink its economic policy.

Noting the pitfalls of the Fund’s new focus on inequality, Matthew wrote: “it is that word ‘inequality’ — one which is accompanied by all manner of polarising baggage — that rings alarm bells.”

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The road to growth... And, on BBC News ([link removed]) , IEA Chief Operating Officer Andy Mayer discussed the market reaction to the fiscal announcements. Andy noted the importance of supply-side reform in boosting growth in the economy. Watch the full clip here ([link removed]) .

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German efficiency... IEA Head of Political Economy Kristian Niemietz was quoted in a BBC a ([link removed]) rticle ([link removed]) discussing what the NHS can learn from Germany’s healthcare system.

He noted: “Social health insurance systems tend to have better healthcare outcomes. Patients enjoy a greater degree of individual choice and benefit from shorter waiting times. Switching to a social health insurance system would not be a panacea."

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Union militancy... With further strike action scheduled in the coming days, IEA Editorial and Research Fellow Professor Len Shackleton wrote for CapX ([link removed]) on what the government can do to combat rising trade union militancy. Outlining the core economic problem, Len wrote:

“A common feature of this wave of militancy is a demand for inflation-busting pay increases, with little willingness to consider changes in working arrangements to increase productivity. Those kinds of reforms are the only sustainable way to boost pay – something everybody wants to see.”

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Low energy policies... And, Andy Mayer was quoted in The Sun’s ([link removed]) coverage of Labour’s new proposal to create a state-owned clean energy company. He noted:

“Only the Labour party could look at the current energy mess and think ‘what this needs is more politicians’. Great British Energy might involve nationalising current suppliers or creating a new British Leyland for wind farms."
OUT OF POCKET

Governments across Europe have raised the cost of living with high taxes and burdensome regulations. These are especially harmful during the current inflationary pressures that impact the poorest the most.

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Authors of the recent ‘Out of Pocket: How governments fuelled the cost of living crisis ([link removed]) ’ EPICENTER paper have been leading discussions in Brussels at the Great Inflation Unconference, hosted by the European Liberal Forum.

They’ve outlined what governments can do right now in order to help and alleviate the burdens on their citizens through fiscal and regulatory reforms.

Read what the UK government could do here ([link removed]) and keep an eye on upcoming briefings on this topic by EPICENTER here ([link removed]) .
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As an educational charity, the work we do is entirely funded by donations. If you are able to help, please click here ([link removed]) or get in touch with our Development Director Angela Harbutt at [email protected] (mailto:[email protected]?body=Dear%20Angela%2C) . We thank you for your continued support.
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IATP YOUTUBE

The Initiative for African Trade and Prosperity is delighted to announce that they have launched a brand new YouTube channel! ([link removed])

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The channel will be filled with content that explains and promotes the benefits of free societies, particularly how they relate to African development. They also have plans for their partner think tanks across the continent to incorporate these videos into their student outreach programmes.

From accessible explainers to informative economic analysis, the IATP YouTube channel is the home of African free market content. Subscribe here ([link removed]) .
IEA DIGITAL

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Taking liberties... The phenomenon of postliberalism has taken the political world by stealth and its adherents claim that liberalism has caused the woes of the contemporary West. They use ‘liberalism’ to cover both classical liberals and liberals in the modern American sense. But, what is postliberalism and why are postliberals wrong about freedom?

IEA Fellow Dr Jamie Whyte has recently authored an IEA research paper on the topic, entitled: 'Taking Liberties: Why postliberals are wrong about personal freedom'. ([link removed])

Watch IEA Communications Officer Harrison Griffiths interview Jamie on the topic here ([link removed]) .

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IEA Podcast... Kwasi Kwarteng's fiscal announcement has caused quite the storm, with the removal of the 45p rate of income tax and the abolition of the cap on bankers' bonuses drawing mixed reviews.

The Chancellor's bold tax cuts sent shockwaves through the foreign exchange market, causing the pound to slump to record lows. However, the question remains: will these reforms bring about long term growth rates of 2.5 per cent?

In this episode of the IEA podcast, IEA Head of Public Policy Matthew Lesh speaks to Tom Clougherty, Head of Tax at the Centre for Policy Studies, to explore this question.

Watch here ([link removed]) .
FOR THE CALENDAR

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IIMR Webinar Series... The Institute of International Monetary Research, based at the University of Buckingham, is hosting a series of webinars in October.

The first, on October 5, will feature Charles Calomiris of Columbia Business School on the question: Does the Fed need a tighter monetary policy rule and Congress scrutiny to restore price stability?

On October 19, Pedro Schwarz of Universidad Camilo José Cela will discuss: Monetarism in an historical perspective: why is it not fashionable anymore?'

If you are interested in attending either of these events, more information can be found here ([link removed]) .

CALLING ALL STUDENTS!

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Monetary policy essay price... Applications are now open for the monetary policy essay prize, organised by the IEA, the Institute of International Monetary Policy Research and the Vinson Centre.

This year's question is: Are the central banks to blame for the current inflation episode?

To be in with a chance of winning up to £500, you must submit your answer by 6 January 2023. Further details on how to enter can be found here ([link removed]) .

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The November Teacher Seminar is also being hosted at the IEA office. The event will include presentations from IEA researchers on issues related to the academic syllabus. The focus will be on the history of economic thought, whether forecasting makes sense, and the history of the government debt crisis.

The event will take place on 2 November 2022 from 10am–3.30pm. You can find more information on how to sign up here ([link removed]) .

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