Responding to the Queen’s Speech, Mark Littlewood, Director General at the Institute of Economic Affairs, said:
“It is time this government stopped paying lip service to growth and did more about it. Measures to encourage growth should have formed the backbone of the legislative programme. Instead, a few meagre measures simply tweak round the edges. Further spending reductions, substantial tax cuts and specific red tape reduction measures should form the core of the government’s agenda for the rest of this Parliament.
“When it formed the coalition, both parties said they were committed to eliminating the deficit. This will now not be achieved. Government debt is ballooning and the economy is stagnating. The government should see the latest growth futures as a serious warning. Now is the time for urgent action.”
Notes to editors
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The mission of the Institute of Economic Affairs is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems. The IEA is a registered educational charity and independent of all political parties.