On Borrowed Time
Codification and Reform of the British Constitutional Arrangement
In this briefing paper, Karthik Reddy argues that the British constitutional arrangement has changed such that traditional checks and balances against governmental abuses of power have been lost, and says that a codified constitution is needed which clearly articulates the limits to parliamentary sovereignty. Reddy argues that the Prime Minister's presidential powers must be recognised and responded to by separating the executive from the legislature and making the office of Prime Minister directly electable by the British people, with parliament acting as an independent legislative balance against the executive.
Just the Facts: Previewing the Comprehensive Spending Review
How severe will the cuts due to be outlined in the Comprehensive Spending Review (CSR) actually be? This short, opinion-free briefing that aims to answer this question, by examining the spending totals outlined in June's Emergency Budget.
Privatisation Revisited
This report calls on the government to undertake a radical new programme of privatization. There are still many attractive commercial operations in the public sector that should be privatized – for instance, Channel 4, BBC Worldwide, Scottish Water, Network Rail and many other firms. The report also calls for the government’s shares in RBS and Lloyd’s TSB to be sold off gradually over the term of the current government. Together, these privatizations would raise up to £90billion over a period of several years.
The report argues that many benefits would accrue if its proposals were implemented in full – particularly in terms of operational efficiencies. The major privatization wave under the Thatcher government opened up much of Britain’s industry to competition and helped the British economic miracle of the 1980s. In times like this, a return to this approach is required to rejuvenate parts of the British economy.
Britain’s national debt is approaching one trillion pounds and interest repayments are nearly £120 million every day. With this report, the government now has an instruction manual in how to begin paying down this debt and simultaneously jumpstarting the flagging British economy.
Welfare Reform: The importance of being radical
Our response to the Department of Work & Pensions' '21st Century Welfare' consultation argues in favour of radical welfare reform, endorsing the 'universal credit' subsequently adopted by the government. Its authors note that piecemeal reform of the welfare system is unsuited to overcoming its two chief failings – failing to provide a safety net for the needy and creating perverse incentives against work – and instead suggest sweeping away the existing welfare system and introducing a Universal Credit that pays initial benefits at 50% of the median income, and tapers at 55%.
Reforming the Regulators
This briefing paper, by ASI fellows Tim Ambler and Keith Boyfield, notes the extraordinary growth of the UK's regulatory agencies since 1997 and the deleterious consequences for the UK economy. They argue that the UK's regulators should first be restricted to their original, purely economic role, and subsequently merged into a single, competition-focused Office of Fair Trading.
Access to Justice: Balancing the Risks
This briefing paper, by lawyer and medical practitioner Anthony Barton, argues that both the legal aid and the Conditional Fee Agreement (CFA) systems are flawed in that they give rise to situations which are not economically sustainable or politically acceptable. This paper suggests scrapping civil legal aid in almost all cases, and reforming the CFA system to deter risk-free speculative litigation.
Austrian Economics - A Primer
Austrian School economists gave us the ideas of marginal utility, opportunity cost, and the importance of time and ignorance in shaping human choices and the markets, prices and production systems that stem from them. 'Austrian' economics has revolutionised our understanding of what money is, why economic booms invariably turn to damaging busts, why government intervention in the economy is a mistake, the importance of time and information in economic decision-making, the crucial role of entrepreneurship, and how much economic policy is just plain wrong. Eamonn Butler explains these ideas in straightforward, non-technical language, making this Primer the ideal introduction for anyone who wants to understand the key insights of the Austrian School and their relevance and importance to our economic situation today. Now updated with an additional chapter on Contemporary Austrian thinking.
Global Player or Subsidy Junkie? Decision time for the BBC
This report, by media expert and former BBC producer David Graham, argues that the TV Licence Fee should be abolished, and that the BBC should instead become a subscription service. The report makes a number of points against the Licence Fee, but also makes a more positive case for reform, suggesting that shifting to a voluntary subscription model would encourage the BBC to compete with the big US studios, export more high quality content overseas, and spark significant growth in the UK broadcasting industry and its contribution to the wider economy.