Commenting on the Queen’s Speech, Mark Littlewood, Director General of the Institute of Economic Affairs, said:
“The Queen’s Speech offered little to promote growth. Policies to boost the economy should have made up the majority of the legislative agenda, yet instead barely anything has been promised except more business regulation and more government spending on wasteful infrastructure projects and welfare.
“This is a weak response by a government that is facing a productivity crisis and which seems incapable of reducing government spending. The more promising measures to reduce business regulation and reform the welfare system seem aspirational, rather than radical. Significant 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.”
Commenting on specific measures, Mark Littlewood said:
“The decision to press ahead with High Speed 2 is very bad news for taxpayers and the wider economy. The costs of this loss-making project are likely to far exceed the benefits and the final bill could easily be in excess