The Death of British Prosperity: What Went Wrong? | IEA Live
In this Institute of Economic Affairs panel discussion, Dr. Kristian Niemietz chairs a conversation on "Government and Economic Growth in the 21st Century" with Dr. Stephen Davies, Senior Education Fellow, Julian Jessop, Economics Fellow, and Cento Veljanovski, IEA Law and Economics Fellow. The discussion examines Britain's 18-year period of economic stagnation since 2007, exploring why an entire generation has never experienced meaningful economic growth. The panel addresses the political consequences of zero-sum economics, where distributional conflicts have poisoned political discourse as politicians promise benefits without the growth needed to fund them sustainably. The conversation covers the productivity puzzle affecting most Western economies, with Julian Jessop highlighting how Britain's debt could explode to 649% of GDP within 50 years without productivity improvements. Stephen Davies argues that politics has shifted from economic efficiency arguments toward identity-based divisions between nationalism and cosmopolitanism, while noting that most voters across the spectrum still expect government spending without corresponding taxes. The panel discusses the distortive effects of prolonged ultra-low interest rates and quantitative easing, which created zombie companies and asset price bubbles while encouraging fiscal complacency. Cento Veljanovski draws on Hayek's work to examine where the line should be drawn between market and state, arguing that liberalism faces an identity crisis in an era where big government is blamed on "neoliberalism" despite extensive state intervention since 2008. The discussion concludes with debate over potential solutions, from radical reforms like abolishing central banks to addressing the "shadow public sector" of bureaucratic gatekeepers. The panel expresses pessimism about coalition-building with populist movements, suggesting that economic arguments alone may no longer be sufficient to advance liberal reforms in the current political climate. Get full access to Institute of Economic Affairs | Insider at insider.iea.org.uk/subscribe
--------
1:11:23
--------
1:11:23
Britain's £50 Billion Black Hole: Beyond the Point of No Return? | IEA Podcast
In this IEA podcast, Managing Editor Daniel Freeman interviews Tom Clougherty, Executive Director, and Dr. Stephen Davies, Senior Education Fellow. The conversation examines Britain's looming £50 billion fiscal black hole identified by the National Institute of Economic and Social Research, exploring why Rachel Reeves will miss her fiscal targets and what this means for the UK's financial future. They discuss the structural problems driving persistent deficits, from an ageing population to productivity failures, and why traditional austerity approaches have failed to solve the underlying issues.The discussion covers potential solutions to Britain's fiscal crisis, including radical reforms to pensions, healthcare, and welfare systems. Tom advocates for broad-based VAT reform as the least distortive way to raise significant revenue, while Steve argues for fundamental restructuring of how the state operates. They examine why politicians struggle to implement necessary changes and whether the UK has moved beyond the point where incremental reforms can make any meaningful difference to the public finances.The conversation concludes with analysis of Labour's socio-economic duty proposals and their impact on civil service recruitment and school admissions. They also explore a new report on AI's role in HR departments and whether this signals the beginning of widespread automation of white-collar professional jobs. The discussion touches on whether technological disruption will create mass unemployment or simply transform the nature of work in Britain's economy. Get full access to Institute of Economic Affairs | Insider at insider.iea.org.uk/subscribe
--------
49:15
--------
49:15
Why Nuclear Power Will Save The World | Free The Power
In this Free the Power podcast, the IEA's Andy Mayer interviews Tim Gregory, author of "Going Nuclear: How the Atom Will Save the World" and nuclear scientist at Sellafield. The conversation tackles radiophobia and public misconceptions about nuclear safety, examining how accidents like Chernobyl and Fukushima have shaped public perception despite nuclear power being statistically as safe as wind and solar energy. Gregory shares his personal experience working with radioactive materials daily and even swimming off the coast of Sellafield, demonstrating how those who work closest to radiation are least afraid of it. The discussion reveals why nuclear construction has become so expensive and slow, with Gregory pointing to overregulation through models like the linear no-threshold approach that assumes no safe level of radiation exposure. They explore the promising emergence of small modular reactors that can be mass-produced like "IKEA furniture" and deployed at industrial sites to provide both electricity and heat for manufacturing processes. Gregory explains how this technology could revolutionise decarbonisation efforts by addressing the often-overlooked need for high-temperature industrial heat in sectors like steel production, ammonia synthesis, and food processing. Beyond power generation, Gregory reveals fascinating applications including nuclear medicine where radioactive isotopes target cancer cells, essentially making tumours radioactive to destroy them from within. He argues that nuclear waste should be viewed as a valuable resource rather than just waste, containing materials essential for medical isotopes and space exploration. The conversation covers how radioactive power sources enable spacecraft missions beyond Jupiter and could power future lunar and Mars habitats, with Gregory highlighting that the UK's nuclear waste stockpile contains enough material to fuel an "essentially infinite supply" of space batteries for solar system exploration. Get full access to Institute of Economic Affairs | Insider at insider.iea.org.uk/subscribe
--------
36:10
--------
36:10
We Called It: The Online Safety Bill Debacle | IEA Briefing
In this Institute of Economic Affairs briefing, host Callum Price interviews Matthew Lesh, IEA Public Policy Fellow and author of a 2022 briefing paper on the Online Safety Bill. The discussion covers the implementation of the Online Safety Act and its impact on free speech, examining how age-gating requirements are now forcing platforms to hide legal political content behind age verification systems. They explore how genuine political debate, grooming gang trial transcripts, and war coverage from Ukraine and Gaza are being censored by default, creating what Lesh describes as "censorship by design" where users must prove they're adults to access legal speech. The conversation delves into the broader consequences of the legislation, including smaller platforms and forums withdrawing from the UK market due to compliance costs, the rise in VPN usage to circumvent restrictions, and the paradox of hiding political content from 16-17 year olds while simultaneously discussing giving them voting rights. Lesh explains how the act's "duty of care" model treats speech as equivalent to physical harm, creating unprecedented regulatory burdens on platforms and incentivising over-censorship to avoid massive fines of up to 10% of global revenues. Looking ahead, they discuss Ofcom's expanded enforcement powers, the potential for further restrictions on private messaging through backdoor requirements for encrypted platforms like WhatsApp, and the concerning precedent of treating psychological harm as grounds for government censorship. The interview concludes with Lesh arguing for complete repeal of the act, describing its fundamental approach as incompatible with a free and open liberal society, while noting the political challenges facing any future reform efforts. Get full access to Institute of Economic Affairs | Insider at insider.iea.org.uk/subscribe
--------
23:45
--------
23:45
The UK Government Just Made a MASSIVE Mistake | IEA Podcast
In this Institute of Economic Affairs podcast, host Callum Price interviews Executive Director Tom Clougherty and Editorial Director Kristian Niemietz. The conversation examines the immediate impact of the Online Safety Act's age verification requirements, which have led to widespread content blocking, a 1400% surge in VPN downloads, and legitimate websites restricting UK access. They discuss how the legislation mirrors previous regulatory failures like the banking anti-money laundering scandal, creating false positives that harm innocent users while failing to achieve its stated objectives.The discussion moves to Ofgem's controversial proposal to make energy standing charges progressive based on income or wealth, as green transition costs drive up bills. Clougherty argues this represents dangerous mission creep in policymaking, shielding voters from the consequences of net zero policies while undermining market price signals. With UK household energy bills 20% above European averages and industrial bills 90% higher, they examine how policy choices rather than external factors account for over half of recent bill increases, creating political pressure for increasingly interventionist solutions.The episode concludes with a debate over whether Britain is truly "broken," responding to recent commentary about national decline. While acknowledging serious policy failures across multiple areas, both Clougherty and Niemietz push back against catastrophist narratives from both left and right. They argue that Britain's problems stem from poor policy choices rather than inevitable decline, emphasising the country's untapped potential and the availability of practical liberal solutions to current challenges, from planning reform to competitive taxation.Timestamps: 01:33 - Online Safety Act & Age Verification Chaos 24:57 - Progressive Energy Bills & Net Zero Costs36:07 - Is Britain Really Broken? Get full access to Institute of Economic Affairs | Insider at insider.iea.org.uk/subscribe
The Institute of Economic Affairs podcast examines some of the pressing issues of our time. Featuring some of the top minds in Westminster and beyond, the IEA podcast brings you weekly commentary, analysis, and debates. insider.iea.org.uk
UK