Mark Littlewood, Director General at free market think tank the Institute of Economic Affairs comments on the speech
The Prime Minister is right to recognise the scale of the economic challenges facing the country. While mistakes were made by the last administration, those mistakes were largely made in delivering the economic medicine, not in diagnosing the illness.
The Prime Minister must resist calls for more of the same high-tax, low-growth, cheap money economics responsible for our long-term, low-growth economic malaise. I hope he shares his predecessors' analysis of the many underlying structural problems in the UK economy and wish him every success in delivering the necessary remedies.
Notes to editors
IEA spokespeople are available for interview and further comment.
The mission of the Institute of Economic Affairs is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems. The IEA is a registered educational charity and independent of all political parties.