IEA Podcast

In this conversation, Reem Ibrahim sits down with Shanker Singham, one of the world’s leading international trade and competition lawyers, to discuss his newly published book “International Trade Regulation, the Global Economy, and the Impact of Anti-Competitive Market Distortions.” Shanker reveals groundbreaking research showing that a 15% improvement in domestic competition and regulation could increase GDP per capita by 8-11% - nearly double the impact of trade liberalisation alone. He challenges the prevailing narrative around tariffs and protectionism, demonstrating why fixing market distortions at home matters more than reciprocal trade barriers.Shanker explains the concept of “anti-competitive market distortions”, a term he coined 25 years ago, covering everything from regulatory barriers and state subsidies to intellectual property violations. Drawing on econometric analysis of 120 countries over 13 years, he breaks down the three pillars that drive economic growth: trade policy, domestic competition, and property rights protection. Perhaps most provocatively, his research suggests domestic regulatory reform is twice as powerful as trade liberalisation for boosting prosperity. He also discusses his innovative work applying quantum mechanics principles to model the probability of voluntary exchange in markets.From Brexit negotiations to Trump’s tariffs, China’s state capitalism to the UK’s growth stagnation, this conversation covers the most pressing issues in international trade and competition policy. Shanker serves as CEO of Competere and Chairman of the Growth Commission, and is a fellow at the IEA where he previously directed the International Trade and Competition Unit. Whether you’re interested in trade policy, economic modeling, or practical solutions to boost growth, this episode offers crucial insights for understanding how governments distort markets - and how to fix them.\The Institute of Economic Affairs is a registered educational charity. It does not endorse or give support for any political party in the UK or elsewhere. Our mission 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.The views represented here are those of the speakers alone, not those of the Institute, its Managing Trustees, Academic Advisory Council members or senior staff. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit insider.iea.org.uk/subscribe

Professor Patrick Minford explains why Britain has barely grown richer since 2007, with average incomes only 4% higher in real terms over 18 years—an unprecedented period of stagnation. Drawing on decades of research, Minford traces the UK’s economic transformation from the “sick man of Europe” in the 1970s through the Thatcher-era liberalization that saw Britain overtake France and Germany in living standards, to today’s return to high regulation and taxation. He presents a causal model showing how entrepreneurial incentives, tax rates, and labor market regulation drive growth—and warns that current government policies are doing precisely the opposite of what the evidence suggests works.In this wide-ranging conversation with Kristian Niemietz, Minford discusses his econometric analysis of UK growth from 1970-2010, explains why rich entrepreneurs are crucial for economic dynamism, and critiques the wealth tax proposals that he argues would harm rather than help growth. He also addresses Brexit’s economic impact, compares Britain’s regulatory environment to France’s, and offers a stark assessment of Labour’s current economic policies. With over 50 years of experience analyzing UK economic policy, including collaboration with the IEA since the 1970s, Minford provides a provocative challenge to conventional thinking about inequality and growth.This is essential viewing for anyone interested in understanding Britain’s productivity puzzle and the policy choices that could reverse decades of stagnation, or make it worse.The Institute of Economic Affairs is a registered educational charity. It does not endorse or give support for any political party in the UK or elsewhere. Our mission 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.The views represented here are those of the speakers alone, not those of the Institute, its Managing Trustees, Academic Advisory Council members or senior staff. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit insider.iea.org.uk/subscribe

In this special Christmas edition Institute of Economic Affairs briefing, Head of Media Reem Ibrahim interviews Dr. Christopher Snowdon, Head of Lifestyle Economics. The conversation examines how government regulations and taxes affect traditional Christmas foods and drinks, from mince pies to mulled wine, exploring the expanding scope of nanny state restrictions.Dr. Snowdon explains the impact of recent regulations including display bans in supermarkets, advertising restrictions before 9pm, and promotional deal prohibitions on foods deemed high in fat, sugar, and salt. They discuss the ultra-processed food debate, calorie labelling requirements, and how items like mince pies and chocolates face similar regulatory treatment to tobacco products. The briefing also covers alcohol duties, the upcoming disposable vape ban, and cigarette taxation where over 80% of the price is tax.The discussion concludes by questioning whether these interventions actually improve public health outcomes, with Dr. Snowdon pointing to economic growth and prosperity as stronger determinants of health than regulatory restrictions. They examine the nanny state index findings showing no correlation between regulatory intensity and health outcomes, while highlighting the connection between GDP per capita and life expectancy. The message: stop taxing and regulating Christmas festivities and instead focus on policies that deliver economic growth.The Institute of Economic Affairs is a registered educational charity. It does not endorse or give support for any political party in the UK or elsewhere. Our mission 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.The views represented here are those of the speakers alone, not those of the Institute, its Managing Trustees, Academic Advisory Council members or senior staff. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit insider.iea.org.uk/subscribe

In this Institute of Economic Affairs podcast, IEA Director of Communications Callum Price interviews Morgan Wild, Chief Policy Adviser at Labour Together. Morgan explains how Labour Together operates as a private company that exists purely to help the Labour Party govern and win elections, combining deep public opinion research with policy expertise to provide political solutions rather than purely technocratic answers. The conversation covers Labour’s pivot from post-financial crisis demand-side economics to a supply-side growth agenda focused on policy stability, land use regulation, and public investment.Morgan discusses Britain’s fundamental problems - the lack of ability to build anything and weak growth in second cities - and assesses Labour’s performance on planning reform and infrastructure. He argues that markets generate enormous wealth and are the best mechanism for allocating scarce resources, a view he suggests most in the Labour Party share. The discussion covers the political calculations behind economic policy decisions, with Morgan explaining why some technically sound reforms like VAT base-broadening may not be worth the political pain despite their economic benefits.The interview concludes with debates on wealth taxation, stamp duty reform, and the triple lock pension. Morgan dismisses popular wealth tax proposals as unworkable because capital is mobile, instead advocating for property and land value taxation reforms. He acknowledges the triple lock as an incredible long-term liability that any government will ultimately have to reform, and endorses proposals for gradual stamp duty replacement with annual property taxes over a ten-year transition period.The Institute of Economic Affairs is a registered educational charity. It does not endorse or give support for any political party in the UK or elsewhere. Our mission 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.The views represented here are those of the speakers alone, not those of the Institute, its Managing Trustees, Academic Advisory Council members or senior staff. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit insider.iea.org.uk/subscribe

In this Institute of Economic Affairs Christmas special podcast, Director of Communications Callum Price is joined by Managing Editor Daniel Freeman and Editorial Director Kristian Niemietz for a year-in-review discussion covering the highs and lows of 2025. The conversation examines nuclear regulation reform, the John Fingleton review’s recommendations to reduce the UK’s status as the most expensive place in the world to build nuclear projects, and how overregulation has weakened Britain’s competitiveness. They also discuss the Hinkley Point fish protection system that cost £700 million to save several hundred salmon, working out at roughly £250,000 per fish saved.The discussion moves to economic policy frustrations including Rachel Reeves’ budget, the inheritance tax changes affecting farmers, and the broader tax burden reaching its highest levels since World War Two. They examine Labour’s growth strategy contradictions, the productivity gap between the UK and other developed nations, and why Britain continues to struggle with infrastructure delivery costs. The hosts also debate the perverse incentives in the benefits system that discourage work, with particular focus on housing benefit traps and the political challenges of meaningful welfare reform.The podcast concludes with reflections on Trump’s tariff policies and their impact on global trade, Brexit’s unexpected benefit in securing better US trade terms than the EU, and concerns about the long-term political economy of protectionism. They discuss how tariff policies become entrenched as domestic industries adapt, making future liberalisation politically difficult. The hosts praise the UK government for resisting retaliatory tariffs despite political pressure, maintaining a commitment to free trade principles.The Institute of Economic Affairs is a registered educational charity. It does not endorse or give support for any political party in the UK or elsewhere. Our mission 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.The views represented here are those of the speakers alone, not those of the Institute, its Managing Trustees, Academic Advisory Council members or senior staff. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit insider.iea.org.uk/subscribe