The Adam Smith Institute Responds to the King’s Speech

Commenting on the King’s Speech, Maxwell Marlow, Director of Research at the Adam Smith Institute, said:

“The new Government’s King’s Speech is a case of the Good, the Bad, and the Ugly. On the positive side, the Government’s proposed planning reforms could, if executed properly, get Britain building the homes, infrastructure, and lab-space that we desperately need. Moves towards leasehold and commonhold reform will be a welcome relief for the 5 million UK households still living under our outdated leasehold system. Businesses will be relieved that the Apprenticeship Levy will be stripped, and that a better emphasis on skills and productivity will be introduced into the economy. And legalising the production and sale of lab grown meat will help to substantially reduce greenhouse gas emissions and will be a boon for the UK’s science and technology sectors.

But not all the Government’s policies are evidence-led. The proposed Black Market Charter that is the generational smoking ban could empower criminals to sell tobacco to younger people who would be turned away from shops. Likewise, the proposed Education Tax of applying VAT to private schools risks actually costing taxpayers and causing chaos as pupils leave their independent schools for the state sector. Meanwhile, the Government’s ‘New Deal for Working People’ will create additional constraints on businesses, while disadvantaging working people by making it less attractive to hire new staff.

We also know that Martyn’s Law will add considerable strain for SME hospitality venues, at a time when liberalisation is needed. Plans to empower the OBR, regulate AI, create a new Football Regulator, introduce a new industrial strategy and impose a burdensome Race Equality Act are further worrying signs that this is a government that will expand the size and scope of the regulatory state. 

The Government promised ‘Change’ during the election. Whilst there are elements of promising reform in mission and growth, this King’s Speech in great part is a continuation of managerialism, needless intervention in the lives of everyday people, and shows a lack of imaginative thinking about how this country should be governed.”

--ENDS-

Notes to editors:  

For further comments or to arrange an interview, contact Emily Fielder, emily@adamsmith.org | 0758 477 8207.

The Adam Smith Institute has previously published a report on the potential negative consequences of levying VAT on independent school fees , including the impact on the economy and on state schools. The report can be found here. 

The ASI has previously commented on the government’s proposals for planning reform. The comment can be found here. 

The ASI has previously published a report on the benefits of legalising lab grown meat. The report can be found here.

The Adam Smith Institute is one of the world’s leading think tanks. It is ranked first in the world among independent think tanks and as the best domestic and international economic policy think tank in the UK by the University of Pennsylvania. Independent, non-profit and non-partisan, the Institute is at the forefront of making the case for free markets and a free society, through education, research, publishing, and media outreach.