In an interview on BBC Radio 5, Mark Littlewood discussed the worrying findings of the newly released 2010 Index of Economic Freedom. For the first time in the 16-year history of the Index, the UK has dropped out of the top-ten countries. Among the twenty largest economies, the UK suffered the second largest annual fall in economic freedom, its score dropping from 79 (out of 100) to 76.5. Only in the USA is economic freedom declining more rapidly.
The IEA's Director General drew attention to Britain's appalling performance in the government spending component of the Index, where the UK scores only 41.9. It is clear that the UK economy has become heavily socialised over the last decade, a trend that has speeded up in the last two years.<