HAT TIP: Following the May 7th General Election results, a timely article on the case for freer markets and a less powerful state has just been published by CentreForum. No surprises that the author of this stellar piece is by none other than IEA Director General, Mark Littlewood.
This short (2 page) article is especially recommended to our liberal-minded Conservative MPs; short, pithy and loaded with Littlewood’s delicious and highly repeatable soundbites. We reckon these are the choicest themes that will be quoted, expanded upon and otherwise used time and again in the months (possibly years) to come.
“[in the past 40 years] state spending has increased by a factor of about three and half in real terms”.“Spending on all welfare provision in the UK –including state pension provision – amounts to around £8,000 per household. Twice what it was in nominal terms a decade or so ago. “
“Pretty consistently, in recent decades, governments – again of all political persuasions – have only found it possible to collect around 37% of national income in tax receipts… Given this 37% rule seems to be close to being an iron rule, [Government] spending above this on any consistent basis is a road to ruin.”
“[My educated guess is that] the financial services are the second most regulated sector of our economy. I was disappointed it didn’t come top – I think handling weapons grade plutonium comes top.”