Commenting on Deputy Prime Minister Nick Clegg’s speech on restoring economic growth, Mark Littlewood, Director General at the Institute of Economic Affairs, said:
“The government will not bring about growth through speeding up capital spending. If this is the extent of its strategy, we should not hold our breath waiting for improving economic forecasts any time soon.
“Boosting growth is a challenge, but it is also a choice. What is needed is a major programme of deregulation, making it easier for private businesses to flourish. The government should be slashing red tape, suspending – not increasing – the minimum wage, and being more radical in its proposed liberalisation of planning laws.“
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Notes to editors
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.
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