The Peter McCormack Show #129 - Shanker Singham - The Case for Radical Economic Reform
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Nov 18, 2025 In this engaging discussion, Shanker Singham, a prominent trade lawyer and expert in competition policy, delves into the shortcomings of the UK's economic framework. He argues that current regulations stifle innovation and competition, calling for radical reforms. Shanker highlights the missed opportunities post-Brexit and critiques government inefficiencies and anti-competitive rules. He also emphasizes the importance of education in preparing for an AI-driven future, advocating for critical thinking and practical reforms to boost the economy.
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Prioritise Rights Then Remove Distortions
- Governments should prioritise rights, then remove market distortions to let voluntary exchange flourish.
- Shanker Singham argues regulatory reform yields far larger GDP per capita gains than tariffs or tax cuts.
Use Competition As The Regulatory Yardstick
- Judge regulations by their effect on competition and aim for the least anti-competitive approach consistent with safety.
- Use competition as the benchmark when deciding whether a rule should exist or be reformed.
Measure Regulatory Costs Against Benefits
- Always assess the cost of regulation against its stated safety or prudential benefits before implementing it.
- Provide citizens measurable estimates so they can judge whether regulatory costs are worth the benefit.
