ASI comments on tax credit cuts feature in The Mirror

The Adam Smith Institute has featured in The Mirror for our position against the tax credit cuts.

For example the right-wing Adam Smith Institute states: “Working tax credits are the best form of welfare we have and cutting them would be a huge mistake.”

Read the full article here.

Dr. Eamonn Butler’s letter features in the Evening Standard

Director of the Adam Smith Institute, Dr. Eamonn Butler, has had his letter regarding the prospect of Lord Turner being the Governor of the Bank of England featured in the Evening Standard.

Lord Turner’s keenness for “printing money” is no virtue, but precisely why he should not be a “candidate for Governor of the Bank of England” [City Comment, November 5]. It was the bank’s easy money and cheap credit policies that set off this boom-bust cycle in the first place. And their hair-of-the-dog remedy – record low interest rates – just delays an even bigger hangover. We need central bankers who fear making things too easy to be true, not ones who enthuse about it.

Kate Andrews writes for the IBTimes on the issues with Equal Pay Day

Head of Communications at the Adam Smith Institute, Kate Andrews, wrote an article for the IBTimes on why the ‘gender wage gap’ is not really a gap at all, and discusses how the figures have been manipulated ahead of Equal Pay Day.

Apparently, Equal Pay Day is meant to raise awareness about the inequalities between men and women in the workplace. But in reality, it provides a platform for manipulated statistics to be bandied about, and encourages women to adopt a dangerous (and unnecessary) victimhood mentality in the workplace.

Read the full article here. 


Should more be done to block cheap Chinese steel imports? | Tim Worstall argues NO in City AM

Senior fellow at the ASI, Tim Worstall, was in City AM this morning for his comments on why subsidised Chinese steel imports are actually good for UK consumers

Far from rejecting cheap Chinese steel, we should thank the oppressed Chinese taxpayer for making us all richer. Subsidies are a distortion to a market and we normally don’t like such distortions. But think through what the allegation here is.

The Chinese government is subsidising the price of the steel which is flooding out of China. Some call this a subsidy to those steel producers: it isn’t, it is a subsidy to steel consumers.

Read the full debate here. 

ASI Fellow Preston Byrne has his comments on the Investigatory Powers Bill featured in The Guardian

Preston Byrne, an Adam Smith Institute fellow, has featured in the Guardian for his critique of the IP Bill. He argues it does not effectively tackle terrorism, it just puts the general public at risk.

Preston Byrne, the general counsel for blockchain-based startup Eris Industries, said that “this legislation will not address the problem it’s designed to solve. Terrorists will go dark using off-the-shelf software like GPG and Tor, at the same time as ordinary people and businesses are placed in serious jeopardy because all of their own data is stored somewhere in a way which can be compromised.

Read the full article here.