When it comes to the global trading system, there is an ongoing battle between two competing models. The first sees regulatory competition with equivalence and mutual recognition as far as regulations are concerned. That’s the classic system embodied by the likes of the United States, the World Trade Organisation and the Comprehensive and Progressive Agreement […]
Even though it was introduced by the previous government, the Football Governance Bill – which MPs passed yesterday and will create an Independent Football Regulator (IFR) – attracted strong opposition. Critics say that a regulator will damage the innovation so critical to making English football (especially the Premier League) such a powerful economic generator for […]
It has been an important week for the UK. It can now count a hat trick of firsts since leaving the EU in the execution of its independent trade policy. First accession country to the CPTPP. First major country to have a trade deal with India (negotiated in three years), and now first country to […]
It’s barely a week since Rachel Reeves made her agenda-setting speech on how the Government intends to ‘kickstart economic growth’. Yet while her commendable rhetoric may have enabled the Chancellor to bask in 24 hours of optimistic headlines about future prosperity, economic reality is biting once again in the cold light of day. Monday saw […]
The Prime Minister’s drive for AI, announced this week, is commendable. AI can, if appropriately used, lead to a significant improvement in productivity. It is often said that while people may not lose their jobs to AI, they will lose their job to someone who knows how to use it. However, your AI search requires […]
It is important for Conservatives to give credit where credit is due, and not to simply oppose everything the Government does for the sake of opposing it. This is a mistake that many opposition parties make. It can have long term consequences – such as when Republicans opposed the Trans Pacific Partnership, which was originally […]
As we draw closer to the election, both Keir Starmer and Rishi Sunak have said that they will prioritise growth. So with both main parties talking at least nominally about wealth creation, the important things to consider are precisely how wealth is created and who is most likely to deliver it. The Growth Commission (which […]
In the lead-up to this Wednesday’s Autumn Statement, much of the conversation amongst pro-growth voices in Westminster has focused on tax cuts. That’s no surprise when our current tax levels are so high. But, as important as reducing the tax burden is for unlocking economic growth, proper regulatory reform is also essential. At the independent […]
As the Conservative leadership election draws to its close, there is feverish speculation about who should be in the Cabinet and what the new PM’s priorities should be as soon as they take office. These early decisions will be crucial. Personnel is policy. Put the wrong man or woman into a particular department where there […]
Conservatives generally subscribe to the idea that we should promote aspiration. In the US, while on the campaign trail in 2012, then presidential candidate Mitt Romney said that, contrary to conventional wisdom, it was actually the Democrat party that was the party of the already rich, and the Republicans the party of those who wanted […]
There is a lot that gets said on the campaign trail as the two candidates duke it out for votes. The temptation to simply agree with what the voters seem to be asking you to say is immense. But it was particularly disappointing to hear Rishi Sunak suggest that the Australia trade deal struck by […]
The Tory leadership race so far has been characterised by a rather sterile debate on tax policy and its effect on inflation. We could all benefit from some home truths in this area. For starters, the idea that tax cuts and regulatory reform don’t lead to more private economic activity, more competition and lower prices, […]
The UK is now the last man standing in the face of a host of countries demanding a WTO waiver on intellectual property rights. The much vaunted deal’s goal is to ensure that Covid vaccines will be more available in developing countries than before – but as I wrote recently on CapX, weakening IP rights […]
This week the WTO will consider a potential waiver of the intellectual property rights conferred under the TRIPS agreement. At first blush this looks like a political ‘vote winner’. The issue appears to pit developing countries like Brazil, India, South Africa and Argentina against powerful pharmaceutical companies. The reality, however, is more complicated. The driver […]
While the Prime Minister’s domestic woes hog the headline, his trip to India this week matters far more for the UK’s long-term prospects than arguments about fixed penalty notices and who was ambushed by a birthday cake. Like the US, the UK has made clear that it wants to pivot towards the Indo-Pacific. Some are […]
The Russian invasion of Ukraine has reminded us that we live in the real world, not the world as we would like it to be. In this context, it is especially troubling that governments have allowed myths about the purpose of business to proliferate. They have let the belief to take hold that business’ profit […]
Foreign Secretary Liz Truss today sets out a vision for global development based on the fundamental principle that free trade is the way to raise people out of poverty. Not everyone working in development shares this belief in the importance of trade liberalisation, competitive markets and property rights protection. So it is up to the […]
The key to a successful policy choice is maximising opportunity and minimising disruption. From the beginning of my involvement in the UK’s decision to leave the EU, I’ve always said that Brexit should be judged by these two tests. The reason the UK could not remain in some version of the customs union and single […]
America’s decision to support the suspension of patents on Covid-19 vaccines is being hailed by some as victory for public health – but it is also a win for copyright pirates, misguided NGOs, and other vested interests that have long sought to undermine property rights. Waiving the WTO’s Trade Related Intellectual Property Rights (TRIPS) will […]
The announcement of a new Enhanced Trade Partnership between the UK and India is very welcome. It not only promises more trade between the two countries in the near term, but also marks a step on the road to a more comprehensive free trade agreement. Boris Johnson had intended to sign off the partnership on […]
