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29 September 2026 |
FOR IMMEDIATE RELEASE IEA response to the PM's speech to Labour Party Conference Responding, Dr Valentin Boboc, Senior Economist, Institute of Economic Affairs, said: "Andy Burnham promised to give people more control over the economy, but too often his answer was simply to give more control to the state — shifting costs from bills onto taxpayers rather than making them disappear. The National Care Service exposes the biggest problem. Reforming the triple lock after 2030 may be sensible, but the government is proposing a new open-ended spending commitment while promising to maintain an existing one for years to come. It remains unclear where the money will come from in the meantime, or how rising costs will be controlled. Help to Buy risks repeating an old mistake: subsidising demand where housing supply remains constrained, potentially pushing prices higher. The lasting answer is to make it easier to build. Reducing barriers to trade with Europe could support growth. But Burnham has now opened a much bigger debate about Britain’s long-term relationship with the EU without saying which model he favours. The economic test for any new settlement should be whether it makes Britain more open to trade while preserving its ability to pursue pro-growth regulation at home. With the Budget just weeks away, the government should focus on controlling spending, cutting taxes and removing barriers to investment and growth - not expanding the state and leaving taxpayers to pick up the bill." |
ENDS |
