Intelligence Squared The Intelligence Squared Economic Outlook, with Paul Johnson, Part Two
Oct 5, 2024
Paul Johnson, Director of the Institute for Fiscal Studies, shares his insights on Britain's economic landscape after the 2024 general election. He delves into the pressing issues of intergenerational inequality and the wealth gap that influence public policy. The conversation addresses Brexit's lasting economic effects, including trade negotiations and challenges for small businesses. Johnson critiques populist economic strategies lacking solid funding plans and highlights the advantages of devolved governance for better public financial management.
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Intergenerational Inequality
- Intergenerational inequality is worsening due to rising asset prices and stagnant wages.
- Inheritance is now twice as important as it was 25 years ago, impacting social mobility.
IFS Funding and Independence
- The Institute for Fiscal Studies (IFS) relies on research funding and maintains independence.
- The IFS's existence depends on the quality and impartiality of its work.
Importance of FDI
- Foreign direct investment (FDI) is crucial for the UK economy, especially for productivity.
- FDI fell significantly after 2016, potentially due to Brexit or subsequent political chaos.
