The need to reduce the cost of living

Philip Booth on The World at One

Speaking to The World at One on BBC Radio 4, Philip Booth said that whilst the government spends 50% of national income, it is not surprising that there are still extreme economic difficulties.

Britain currently has the most expensive housing in Europe and the most expensive food in Northern Europe. There is a limit to how much money you can draw in tax from the rich, so instead, it is important that government cuts its spending to reduce the cost of living.

If the government spends 50% of income then it is not surprising that a lot of the money is spent on helping the poor. Therefore, if the government then needs to save money, it is the poor that bear the brunt of the cuts.

Listen to the full interview here. Segment starts at 24.13.

IEA Brexit prize

Invest in the IEA. We are the catalyst for changing consensus and influencing public debate.

Donate now

Thank you for
your support

Subscribe to