The Peter McCormack Show #081 - Tom Clougherty - How the Government Broke the Economy
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Jun 10, 2025 Tom Clougherty, Executive Director at the Institute of Economic Affairs, dives into the pressing issues plaguing the UK economy. He dissects the consequences of punitive taxes, bureaucratic overreach, and the hollowing out of the middle class. The conversation explores the challenges of local businesses facing rising costs and government inaction, advocating for radical economic reforms, including a mixed healthcare model and significant tax changes. Clougherty also highlights Bitcoin's potential role as a safeguard against economic uncertainty, calling for renewed public education on these critical issues.
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UK's Economic Stagnation Crisis
- UK's economic stagnation since 2007-2008 limits growth and living standards.
- Low wage growth contrasts with rising housing and energy costs, fueling public pessimism.
Deregulate Planning for Growth
- Reform the planning system to enable more housing and infrastructure development.
- Remove red tape to allow private sector investment where market demand is highest.
QE Missteps and Inflation Lag
- Quantitative easing post-2008 was misunderstood, delaying inflation but not preventing eventual price rises.
- COVID-19 triggered delayed inflation due to excessive money supply and pent-up spending.
