Tinkering at the edges will not deliver sustained growth

This is a remission not a recovery

 

Commenting on the latest GDP figures, Mark Littlewood, Director General at the Institute of Economic Affairs, said:

“This is a remission, not a recovery. Despite positive appearances, today’s figures are not only long overdue, but based on flimsy foundations. The reality is that we are stuck in a quagmire of low productivity and stagnant living standards.

“Without genuine supply-side reform we are in danger of unspectacular growth becoming the new normal. Regulation, archaic planning laws and high marginal tax rates are strangling our economy’s potential. We need long-term structural reform that boosts enterprise and encourages working, producing, saving and investing.”

Notes to editors:

To arrange an interview with an IEA spokesperson, please contact Stephanie Lis, Communications Officer on 020 7799 8909 or 07766 221 268.

ONS growth statistics can be found here.



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