Election 2024: Unpacking Party Manifestos | IEA Podcast

The Institute of Economic Affairs recently hosted a Book Club event reflecting on "The Orange Book" published by the Liberal Democrats 20 years prior in 2004. The event was hosted by Tom Clougherty, Executive Director of the IEA, and featured three of the original authors - Mark Oaten (Former MP & Home Affairs Spokesperson), Baroness Susan Kramer (Former Minister of State for Transport), and Sir Vince Cable (Former Leader of the Liberal Democrats). The panelists discussed the origins and impact of The Orange Book, which aimed to reclaim economic liberalism within the Liberal Democrat party at the time. They reflected on how ideas changed during the Coalition government years, with insights around industrial policy, privatisations, regulation, public service reform and more. Key topics covered included the struggle to enact radical policies, the role of the market vs. government intervention, and the compatibility of economic and social liberalism. Looking ahead, the panel debated what a new "Orange Book" focused on reclaiming liberalism might include today - addressing issues like the fiscal challenges, Brexit, environmentalism, and even artificial intelligence. While differences remained between the economic and social liberal perspectives, there was shared emphasis on the need for a more popular, outward-looking brand of liberalism to tackle nationalism and populism.

In this new and improved episode of the IEA Podcast, hosts Tom Clougherty and Matthew Lesh as host and co-host, they are joined by Kristian Niemietz, IEA Editorial Director, to dissect the recently released party manifestos for the upcoming general election. The team delves into the parties' approaches to tax and spend, planning systems, the National Health Service, and regulation in general. They critically examine the similarities and differences between the major parties' proposals, highlighting the lack of substantial new ideas and the risk-averse nature of most manifestos. The discussion reveals the challenges in implementing meaningful change, particularly in areas like housing reform and NHS improvements. The hosts explore the potential impact of regulatory proposals that often go unscrutinised compared to tax and spend plans, and touch on the Reform Party's unique healthcare proposals and the broader implications of manifesto promises for the UK's economic future. Our goal is to bring you a public affairs podcast with a difference. We want to get beyond the headlines and the shallow political commentary you'll get elsewhere and focus instead on the big ideas and foundational principles that classical liberals should care about.

In this IEA Book Club event, Michael F. Cannon from the Cato Institute challenged perceptions of the U.S. healthcare system as a free market, arguing it encompasses all forms of socialized medicine seen globally. He advocated market-based reforms to reduce costs, improve quality, and expand access by empowering consumer choice over third-party payers. Cannon also discussed emerging healthcare innovations and paid tribute to the late David Boaz's influential libertarian leadership.

On this IEA Podcast episode, host Matthew Lesh discusses Europe's struggles to keep pace with the US and China in the AI revolution with British entrepreneur David Galbraith. Galbraith argues Europe's ageing economic model and aversion to risk have left it lacking tech giants and unable to fully capitalise on the digital economy. He explores Europe's energy policies, touting nuclear and EVs as potential solutions to power intense AI computing needs. Galbraith calls for policies fostering private innovation over premature AI over-regulation that could sideline Europe as the technology rapidly progresses.

"You Do Not Exist: An Introduction to George Orwell's 1984" is a comprehensive analysis of one of the most influential novels of the 20th century, published by the Institute of Economic Affairs (IEA). This thought-provoking work delves into the life of George Orwell, the historical context that shaped his writing, and the enduring relevance of his masterpiece, 1984. Through a meticulous examination of Orwell's experiences, influences, and the novel's themes, the author, Christopher Snowdon, offers a compelling exploration of the novel's warnings against totalitarianism, the corruption of language, and the erosion of objective truth. Combining biographical details, literary analysis, and contemporary parallels, "You Do Not Exist" serves as an invaluable guide to understanding the depth and resonance of Orwell's dystopian vision, inviting readers to contemplate the timeless lessons and cautionary tales embedded within its pages.

Labour leader Sir Keir Starmer has proposed implementing VAT on private school fees if elected. The Institute of Economic Affairs hosted a debate weighing the pros and cons, with Max Marlow of the Adam Smith Institute arguing for the VAT exemption as education provides public benefits, while IEA's Daniel Freeman advocated applying VAT universally for a simpler tax base. The two free market think tankers delved into defining public goods, market distortions from tax exemptions, and impacts on private school enrollment if fees increase. Examining the philosophical role of the state vis-a-vis education and optimal tax policy principles, the lively exchange highlighted the nuances around this controversial issue.

On this IEA Podcast episode, host Matthew Lesh discusses the hot button UK immigration policy issue with Professor Jonathan Portes of King's College London as political parties announce restrictive plans ahead of elections. Portes, an expert on labor markets and immigration, analyzes the recent immigration spike, arguing the system should bring in economically beneficial workers rather than fixating on numbers. He addresses common concerns around impacts on public services, housing, productivity and social cohesion, pushing back on anti-immigration arguments while acknowledging trade-offs like housing supply constraints in this nuanced look at one of Britain's most polarising topics. CopyRetry

The Conservative Party's proposal to reintroduce 12 months of mandatory national service if they win the general election has sparked a heated debate between Matthew Lesh, Director of Public Policy and Communications at the Institute of Economic Affairs, and James Price, a former government advisor. Lesh argues against the policy, viewing it as an infringement on individual liberty and questioning its effectiveness, while Price, once a classical liberal, makes a case for it as a necessary measure to promote social cohesion, patriotism, and resilience in an increasingly fragmented society. The discussion delves into the role of government in shaping culture, the perceived decline of traditional institutions, the challenges faced by younger generations, and the trade-offs between individual freedom and collective responsibility surrounding the national service debate.

In this week's IEA Podcast episode, host Reem Ibrahim and guest Andy Mayer from the Institute of Economic Affairs discuss the appalling findings of the UK's Infected Blood Inquiry, which revealed over 30,000 people were infected with HIV and hepatitis C from contaminated NHS blood products in the 1970s-80s. Mayer demonstrates the NHS, clinicians and governments of repeatedly failing patients by covering up risks for decades to avoid compensation, enabled by the NHS's lack of market incentives for transparency and innovation - a catastrophic institutional failure costing thousands of lives. Exploring why the NHS covered up the scandal, Mayer argues introducing market mechanisms to the blood supply could have prevented or resolved it sooner by driving higher quality suppliers, product diversity and safer treatment innovation.

In this new Institute of Economic Affairs "In Conversation" interview, Tom Clougherty sits down with renowned conservative historian and commentator Simon Heffer. Heffer pulls no punches in his scathing critique of contemporary Conservative leadership and the party's civil war over Europe. He explores major challenges Britain faces - an aging population, pressures on the welfare state, and the need for pro-growth economic reforms. Heffer calls for reining in corporatism and state overreach while incentivizing hard work and self-reliance. He advocates transitioning from a welfare state to a "welfare society" rooted in Victorian values of self-help, making this a must-watch discussion on the future of British politics and economics.